05 March 2009
Are Low Value Items (below 5000/-) eligible for depreciation under block assets or can they be directly expensed out as per companies act for tax purposes as well.
Does it means that an asset say printer costing rs 3000/- is purchased. it should be added in block of assets under "computers" evenif the same is taken to P&L A/c being low value
CAclubindia
