Whether payment of mobile phone should be charged to revenue expenditure or capital expenditure.
Whether it can be charged to office equipments , if mobile is to be used for official purposes.
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Revenue or capital expenditure
Replies (4)
new mobile phone purchased for business use should be capitalized
and the rate of depreciation would be 15%
MOBILE PHONE PURCHASED TREATE AS CAPITAL EXPENSES RATE OF DEPRICITION AS PER COMPANY ACT IS 13.91%
as per co. act 1956 Asset rs. till Rs. 5000 can be dr. to Profit and loss account
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