Company issued Mobile Phone
This query is : Resolved
18 February 2020
Hi, A US based company has a policy saying "All company purchased mobile phone should be expensed off (regardless of value". We, here in India, can follow the same or we need to treat it differently due to some provision of Companies & IT act.
Kindly provide guidelines in this regard, if possible/available.
Kindly provide guidelines in this regard, if possible/available.
20 February 2020
you can capitalise if you want
24 February 2020
Thanks Amol Sir, but i want to know, can we here in India also expensed off the same based on companies policy, or we need to capitalize the same due to some IT or companies act guidelines.
24 February 2020
what is the cost of a mobile?
25 February 2020
using IFRS, it will be advisable to capitalise. The depreciation should be charged as (initial cost - salvage value) divided by economic life of mobile handset. ( 3 years is normally suggested as the economic life of mobile handset)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
CAclubindia
