Furniture

Hi everyone i have one doubt regarding income tax

suppose when an assessee does interior decoration in his office which is related to his business whether it has to be added to furniture and should be shown as fixed assets or it has to be debited to profit and loss acccount as expense and when fixed asset schedule is prepared whether it has to be shown as addition in that block . please clarify.........

Replies (3)

i think u cn show it as fixed asset as it gives benefit of enduring nature,so cn b capitalised,bt m not sure furniture or some other block

 

If you're looking for affordable contemporary or simply leather furniture for your living or drawing room, and deck, look no further. Casa Modern has some of the best personalized family room furniture best suited for typical Indian country and urban homes. Adore your living room or other rooms with Casa Modern's family furniture.
 

 

 CASAMODERN - Deck Furniture
 

 

 

Hi Rocky,

For tax purpose it has to be added to the Furniture block and can claim dep. on it. But for accounting point of view if assets are used for business purpose then only to be added to fixed assets head in balance shaat. But IT does not follow such distinction so to be added to furniture block.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 17 August 2026
Article Assistant

K R Kiran Kumar & Associates

Bengaluru

CA Inter

View Details
Company
21 August 2026
Accountant

A G International

Kolkata

B.Com

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details
Company
14 August 2026
Article Assistant CA Articleship

Eshwar & Co Chartered Accountants - Nungambakkam

Chennai

CA Inter

View Details
Company
28 August 2026
Assistant Manager

NRS AND ASSOCIATES

Kozhikode

CA Inter

View Details
Company
ARTICLESHIP 01 September 2026
Article Assistant

SGNG & Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 17 August 2026
CA Article Trainee

ASC Group

Noida

CA Inter

View Details
Company
21 August 2026
Finance Manager

Resollect Technologies Pvt Ltd

Mumbai

CA

View Details