19 December 2016
if our company purchased a pump machine. which one is benefited for company point of view , take to fixed assets account or direct debited to p/l account
19 December 2016
If cost of Asset is less than Rs.5000/- you can write off to Profit and loss account. It depends on cost of pump set and life of Asset. If you capitalise asset is written off over number of years.
CAclubindia
