EASYOFFICE
EASYOFFICE

Rate of depreciation

This query is : Resolved 

14 August 2013 UPS PURCHASED FOR RS. 1600
HOW MUCH DEPRECIATION TO BE CHARGED AS PER IT ACT AND COMPANIES ACT.

14 August 2013 as per IT act- 15%
as per companies act- you can write off entire amount as the amount is less than 5000

14 August 2013 Better charge this expenditure as revenue expenditure Repairs & Maintanance -Electrical A/C

It will be better and you may not get any objection from your auditor also

other wise you need to go as suggested by above expert..but i recommend to expense the ups purchase


15 August 2013 As per companies act it should be written off fully as it is below Rs 5,000.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries