hai,
We have received 25 Electric kettles worth value of Rs.65000/- including all expenses.
kindly tell us can we capitalise the same to avail depreciation benefit
Regards,
Kumaran
hai,
We have received 25 Electric kettles worth value of Rs.65000/- including all expenses.
kindly tell us can we capitalise the same to avail depreciation benefit
Regards,
Kumaran
Are those Electric Kettles going to be sold of again?
If no, then you shall capitalize all of them and claim depreciation at the rate 15%.
Regards.
Devendra K
If the kettles are being purchased & are to be used for the purpose of business or profession & are not ordinarly sold in the normal course of business then they need to be capitalised as assets. If you will be earning Income say by way of rent or anything else then you will need to show them as investments.
CAclubindia
