18 October 2013
We purchased a table for Rs. 4000. Please suggest can I book it as fixed asset. One of my collegue told that since it is less than Rs.5000 it cann't be asset.
18 October 2013
No, you need to treat it as fixed asset and need to Charge 100% depreciation in your books . . . But some companies making expences less than 5000 as office expences(debit to p&l)
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