Please tell me purchase of computer cartridge and parts will be recorded as printing expense or fixed asset. Please clarify me.
Menu
Purchase of cartridge is expense or fixed asset
Replies (4)
Quick Summary
Printing & stationery expense.
anything whose useful life is less than 12 months is regarded as an expense. and whose life exceeds 12 months is regarded as a fixed asset. hence, the cartridge's useful life is less than 12 months that's why it is a revenue expenditure.
Day to day operating expenses are expensed as well and not capitalised.
its consumable so should be book under Printing & Stationery head not in FA
Recent Topics :
- Itr form for Salary income, Interest, Dividend And
- Will my TDS be deducted as NRI?
- PENSION ARREAR RECEIVED - EPS 95 SCHEME
- Processing of Form 144 (prev 27Q)
- Capital Gain on sale of Vacant Land- Whether Demol
- Hello dear I want help .
- Category B/D pop up after the file is e verified
- Section 56(2)(x)(xi) applicability to compensation
- How to claim exempt income u/s 10(26) in ITR-1 of
- 63053900 tax rate
Related Topics :
CAclubindia
