Mobile phone - fixed asset

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Finance and Accounts Incharge
36 Points Posted on 22 June 2017

Hai All,

Any one can suggest me accounting treatment of Mobile phone purchase amounting Rs 1100. Is it Fixed asset or normal expense. Please suggest.

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On 22 June 2017 at 13:42 Report
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Manager-Accounts & GST Consultant
5124 Points Posted on 22 June 2017

It depends on your company policy. Moreover it can be treated as fixed Assets...

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On 22 June 2017 at 14:13
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Master in Accounts & high court Advocate
9620 Points Posted on 22 June 2017

Depreciation rate 15% is applicable under Income Tax. Record as "MOBILE HANDSET" under Fixed Asset. 

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On 22 June 2017 at 15:41

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