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Fixed assets below rs.5000/-

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(Querist)
19 May 2016 Dear Experts,
Please let me know treatment for assets purchased below Rs.5000/- , before sch II we were doing 100% depreciation assets below 5000/- but in Sch II this concept is deleted now I m confused what to do if single assets purchased below Rs. 5000/- and if assets purchased supposed 10 qty each cost less than Rs. 5000/- Please advice in both the cases. Thanks.
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Amol S Joglekar

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Amol S Joglekar (Expert)
19 May 2016 it will be shown under Asset. (PPE) and depreciated over the period of its useful life
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Rupesh Jain

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Rupesh Jain (Expert)
19 May 2016 you have to take the assets under respective head and w/o as per their usefull life.
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Shraddha

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Shraddha (Querist)
19 May 2016 By what amount I can depreciate this assets
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Amol S Joglekar

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Amol S Joglekar (Expert)
19 May 2016 as per the number of years useful life.

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