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Leather bag purchase by an individual

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(Querist)
20 May 2023 Leather bag purchased by an individual its cost More than Rs.10 lakh,
whether it should be booked in tally under Fixed Assets.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
20 May 2023 Yes, as it's life will be more than one year.

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