Does gold ornament is depreciable

210 views
User Avatar

Ac
138 Points Posted on 13 June 2022

does gold ornament are depreciable because of wear and tear uses ??

0 Reply Share Follow
On 13 June 2022 at 13:29 Report
Replies (9)
Quick Summary
This discussion explores whether gold ornaments should be considered depreciable business assets due to wear and tear. The consensus is that gold ornaments are not depreciable. This is because gold's value tends to appreciate over time, it has an unlimited lifespan, and it doesn't typically suffer from wear and tear in the same way other assets do.

User Avatar

GST Practitioner & Accounts
15140 Points Posted on 13 June 2022
Are they Assets of the Business ?.
Reply
On 13 June 2022 at 13:36
User Avatar

Ac
138 Points Posted on 13 June 2022

yes 

 

1 Reply
On 13 June 2022 at 13:43
User Avatar

Chartered Accountant
86505 Points Posted on 13 June 2022
Not at all.......
Reply
On 13 June 2022 at 14:11
User Avatar

1359 Points Posted on 13 June 2022
Why ?? can you please explain ?
Reply
On 13 June 2022 at 20:12
User Avatar

Chartered Accountant
86505 Points Posted on 13 June 2022
Gold value increases there is no wear & tear after fixed period.
1 Reply
On 13 June 2022 at 20:30
User Avatar

Profession Business
28246 Points Posted on 14 June 2022
Gold is one of the precious metals and is traded at bourses. It's value appreciates.
Reply
On 14 June 2022 at 05:38
User Avatar

1359 Points Posted on 14 June 2022
And it also has unlimited life
am I correct ??
Reply
On 14 June 2022 at 15:50
User Avatar

Chartered Accountant
86505 Points Posted on 14 June 2022
Yes you are.....
1 Reply
On 14 June 2022 at 15:51
User Avatar

Profession Business
28246 Points Posted on 15 June 2022
For the same reason it's ever normally existent.
Reply
On 15 June 2022 at 11:56

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Company 3 months old, INC-20A not filed, all 3 of
  2. How do I choose the Best GST Lawyers in New Delhi
  3. Loss on sale of residential flat after indexing al
  4. Short Deduction
  5. Large mismatch between AIS Business Receipts and G
  6. Income tax on Australian Stipendiary Steward on 3
  7. INCOME TAX SECTION 92E
  8. Queries on Tax Invoice and GST
  9. Income Tax Auditor Tenure for Small Companies
  10. Sec 8 company sec 12ab reg

More recent discussions | Post

Related Topics :

Loading