capitalization of items less than Rs.5000/-

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yashvi sancheti (Querist)
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13 March 2009 What is the treatment for the items less than Rs.5000/- under the company law as well as under the income tax act, if the items belongs to same block of assets.

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
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13 March 2009 You can write off that to P&L, no need to capitalise. This

However, the above is not compulsory. In practicle, we will capitalise this.

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
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13 March 2009 You can write off that to P&L, no need to capitalise.

However, the above is not compulsory. In practicle, we will capitalise this.

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