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Accounting Policy

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(Querist)
19 February 2009 Dear Sir

Whether the company is eligible to mention that, as per company's accounting policy whenever purchase of assets, we have charged to revenue an amount of asset below Rs. 15,000/- per transaction. instead of capitalisation of an assets.
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K V Subba Rao

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K V Subba Rao (Expert)
19 February 2009 I THINK Companies Act doesn't stand in your way but surely IT Act will not allow you to do so

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