Dear Expers
Please Clarify Law books Purchased is an Asset or an Expenses to an Organization.
Thanks in Advance
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Law books purchased is an asset or an expenses
Replies (2)
depends on you... in my view treat them as expense...
From tax point of view If purchased by a professional for da use of profession it will be an asset and at da end of the each year 60% depreciation will be charged(WDV method)
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