Capitalisation
This query is : Resolved
Dheeraj Kaushik
(Querist)
07 March 2012
The co. has purchased Charger and Battery named as VCB Charger for electric Panel.
Can we capitalise the same
Can we capitalise the same
CA Ghanshyam Joshi
(Expert)
07 March 2012
Depend upon the expcted life of the VCB Charger you can take a decision to capatilize it or to book as revenue expenditure irrespective of its cost, if the cost is not really very low.
Mihir Doshi
(Expert)
07 March 2012
Agree with expert.
Kind suggestion: if the value is below 5,000/- charge it off, otherwise capitalise depend upon its useful life and rate specified in schedule XIV to the Companies Act, 1956.
Thanks
Mihir Doshi
Kind suggestion: if the value is below 5,000/- charge it off, otherwise capitalise depend upon its useful life and rate specified in schedule XIV to the Companies Act, 1956.
Thanks
Mihir Doshi
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Reward for festival
- 18% Rent a cab
- Movement of goods by packers and movers - type of sale - Reg.
- Missed uploading GST Invoice
- Closer of business and itc of capital goods
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- Appointment of Auditor By Form ADT-1
- ARCA LOGIN
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
