REGARDING LIFT PURCHASE
This query is : Resolved
25 June 2024
LIFT PURCHASE FOR SHOP AND INSTALL IN SHOP
CAN WE CLAIM DEPRICIATION.. OR
ALL PURCHASE VALUE OF LIFT ADD ON SHOP ASSET VALUE (FIXED ASSET)
CONFUSED.?
THANKS IN ADVANCE
CAN WE CLAIM DEPRICIATION.. OR
ALL PURCHASE VALUE OF LIFT ADD ON SHOP ASSET VALUE (FIXED ASSET)
CONFUSED.?
THANKS IN ADVANCE
26 June 2024
If lift is installed after completion certificate, you can account it under fixtures and depreciate at 10% rate.
26 June 2024
BUT RESPECTED SIR AS PER MY KNOWLEDGE MACHINERY DEP RATE IS 15% ...
I THINK I WAS WRONG. RESPECTED SIR PLZ EXPLAIN SIR ...
THANKS IN ADVANCE
I THINK I WAS WRONG. RESPECTED SIR PLZ EXPLAIN SIR ...
THANKS IN ADVANCE
26 June 2024
Lift will not come under machinery in a shop. Either consider it in building Or furniture & fixtures, both gets depreciated at 10%.
28 June 2024
OK SIR TO USKO SHOP KI COST MEIN NAI ADD KARU NA ALAG SE LIFT KE LEDGER CREATE KARKE 10 PERCENT DEPREICATION LAGA DU YA SHOP KI COST MEIN ADD KAR DU ....
28 June 2024
If you are depreciating the shop building, then add it to that; otherwise create another group for Furniture & Fixture and add the cost to it for depreciation.
28 June 2024
ok many thanks sir Dhirajlal Rambhia sir
Message likes :
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28 June 2024
29 August 2024
Good Luck.
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