Fixed assets as10

TREAT AS FIXED ASSETS 

AND UNDER FURNITURE & FIXTURES 

but per chair Rs.500 so how we can any specific law present 

Furniture includes :

Examples of FF&E include desks, chairs, computers, electronic equipment, tables, bookcases, and partitions.

AS PER ACCOUNTING STANDARD 10, IF FURNITURE SATISFIES THE DEFINITION OF PROPERTY, PLANT AND EQUIPMENT, THEN FURNITURE CAN BE CONSIDERED AS FIXED ASSET.

BETTER TO REFER AS 10.