Can Books be classified as Fixed Assets in accounts?
Menu
Fixed Asset
Replies (1)
Dear Aniruddha,
Yes books can be classified as fixed assets in books of accounts. But generally books which carry higher value or in case of Libraries books are clssified as fixed assets. Moreover rate of Depriciation on Books is 100% so all goes to P&L in one way or other.
Recent Threads
- Error in GSTR1 filing for October 25
- Inverted Rate structure .
- Exemption to be climed
- GST TDS u/s 51 Applicability on RBI and it's subs
- Time allowed to buy another asset
- ITR not processed for the FY 2024-25
- Gift of money to my wife.
- Tax Audit If you show Loss
- GST Tax invoice Value Rs..234000
- Can I claim benefit under 54F if I sell my equity
Related Threads
CAclubindia
