Depreciaiton for individual low cost items

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 July 2012 for individual low cost items (cost less than 5000) is there any provision to write off at 100 % depreciation as per income tax act or this that provision only under companies act

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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06 July 2012 Treatment as per Companies Act is that you can write off in the year of purchase itself if the value is not exceeding Rs. 5000 per item.

you are not required to show it as fixed assets as per income tax also. it may be expended out in that year itself.