My question:
I have purchased telephone for internet connection in this year april. This telephone was compulsory for getting connection. I have used internet from april to december. Now this telephone box i m using for calls purpose in my business.
-> so my first question is that should i calculate depreciation i m a sole proprietor? should i write it on asset side?
->2nd question if in the above question i am a retail trader than what will be the treatment?
->3rd question what will a company do in above case?i know companies have large scaled internet connection. but if it has taken for temporary purpose than what it will do? will they so in financial statements? because it is of very small value for company in compare to land and building and plant and machinery.
CAclubindia
