25 July 2012
My company Had Opening Block Value of Plant and Machinery Rs.88,22,564 we Purchased a Ups Rs 1750 it is capitalized or Not. and also suggest me co. Act Provision Regarding Capitalization of F.Assets and Individual Assets.
25 July 2012
According to Companies Act, if the asset value is less then Rs.5000/- it can be directly expense it off, but also it depends on the company accounting policy on Fixed assets, for control purpose you can capitalise as Fixed assets & take 100% depreciation.and show the nominal value of UPS in the books. it will give the control on the asset in books