Depreciation can claim on mobile phones as per IT act? How much % we can claim?
Reply me urgent......
5 Replies
S.Srinivasaraghavan
(Chief Financial Officer and Co)
(11318 Points)
Replied 28 September 2008
In my opinion they can be written off completely on purchase, for their life is very small.
Amritansh
(Chartered Accountants)
(47 Points)
Replied 28 September 2008
It depend on the company rule of materiality concept and cost of mobile if cost is low and company show up to that cost as revenue then it will be charged on revenue otherwise if cost is high and it can't be charged on revenue then depreciation will be charged at 15%.
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