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.
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.
It depends on your company policy. Moreover it can be treated as fixed Assets...
Depreciation rate 15% is applicable under Income Tax. Record as "MOBILE HANDSET" under Fixed Asset.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
