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Firm purchases fixed assets below 5000

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 August 2014 partnership firm purchases a mobile 4500 so is exp charges in P&l a/c
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Vishnu Saboo

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Vishnu Saboo (Expert)
08 August 2014 you may capitalize it
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Rupesh Jain

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Rupesh Jain (Expert)
08 August 2014 yes you can capitalized.
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Rupesh Jain

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Rupesh Jain (Expert)
08 August 2014 yes you can capitalized.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
08 August 2014 yes u can capitalise it ...................
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
08 August 2014 yes u can capitalise it ...................
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
08 August 2014 yes u can capitalise it ...................
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
08 August 2014 yes u can capitalise it ...................
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CA AYUSH AGRAWAL

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CA AYUSH AGRAWAL (Expert)
09 August 2014 Neither you may capitalise it nor you can capitalise it.
You have to capitalise this.
Since In income tax act, this is no where mentioned to write off the same.

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