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Dear Sir/ Mam ,
Kindly advice on below points ( ASAP) ...
1) what is depreciation rates on Computers , Laptop,Furnitures , A.C. ,MOBILE , FAN , REFRIGIRATORS , COOLERS , MACHINARY , TABLES , SCANNERS , ZEROX MACHINE , PRINTERS , PENDRIVE , CPU , ETC .
2) WHAT IS ABOVE ENTRY PASS IN OUR BOOK S OF ACCOUNTS ??
3) SUPPOSE WE PURCHASE LAPTOP VALUE OF 45500/- , WHATS ENTRY DEPRECIATION ????
4) CAN BOOK MOUSE , CALCULATORS , PENDRIVE AS ASSETS .
5) HOW PASS ENTRY OF BELOW ------
WE PURCHASE A NEW MOBILE WORTH RS. 11580./- //// WITH DEPRECIATION ENTRY ALSO ///////
Replies (1)
Refer this link for depreciationrates as per Income Tax Act
https://www.vohraandsehgal.com/utilities/depreciation.htm
Entry for purchase of an asset is:
Asset A/c DR.
To Cash/Bank/Creditor (Mode of payment)
Entry for depreciation is:
Depreciation A/c DR.
To Asset A/c
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