We have purchase a Set Top Box to our employees. I have question for Can Set Top Box is book as a fixed asstes or not? if yes can you mention depriciation rate as per companies act and income tax act?
Nilesh Takale (MBA) (37 Points)
07 May 2013We have purchase a Set Top Box to our employees. I have question for Can Set Top Box is book as a fixed asstes or not? if yes can you mention depriciation rate as per companies act and income tax act?
Ayushi Agarwal
(Article)
(161 Points)
Replied 07 May 2013
you should treat it as an expenditure.... but if the set-top box is provided temporarily and it is recoverable on termination of employent with your firm, it may be treated as a Fixed Asset...the rate of depriciation being 15%...
CA JIMI S PATEL
(ACCOUNT INCHARGE - GUJARAT REGION)
(98 Points)
Replied 10 May 2013
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
