Depreciation on glass

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 March 2012 Company is purchasing glasses and sending it for making furniture for new office can the expense made to purchase glass be capitalized and depreciation be claimed? Please state any provisions of income tax is affected?

Purushottam

Purushottam (Expert)
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03 March 2012 yes since it will become part of the furniture, depreciation can be claimed as furniture & fixture including the expenditure incurred for the purchase of the glass. provisions regarding cost of acquisition & depreciation will be affected.

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