Respected ,
I have brought a landline phone rs 800/- is it applicable for depreciation? if it is not applicbale then what is the price limit for aplicable ?
Thanks & Regards
Mayur
mayur
(M.Com)
(21 Points)
Replied 04 July 2014
Respected ,
I have brought a landline phone rs 800/- is it applicable for depreciation? if it is not applicbale then what is the price limit for aplicable ?
Thanks & Regards
Mayur
Kartikey Jain
(Intern)
(2382 Points)
Replied 04 July 2018
Originally posted by : mayur | ||
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Respected , I have brought a landline phone rs 800/- is it applicable for depreciation? if it is not applicbale then what is the price limit for aplicable ? Thanks & Regards Mayur |
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See, this more or less will depend on the policy followed by the management. You can opt for any of the two options. You can write it off as a revenue expenditure since the amount is really insignificant. Else you can also opt for depreciation on the rates discussed above.
KOUSHAL JAIN
(Chartered Accountant)
(471 Points)
Replied 04 July 2018
Originally posted by : Harpreet | ||
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As per Comapny Act SLM - 4.75% WDV-13.91/- As per Income Tax Act 15% on P & M |
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shahyar husain
(1235 Points)
Replied 13 November 2020
Prachi Bansal
(3129 Points)
Replied 06 January 2021
As per my knowledge the depreciation rate on mobile phones is 15%
Hope this answers your question!
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