We have purchased portable cabin for our site office. i should consider it as furniture or office equipment?
please advise.
Rudrayani Shedjale (Assistant Accountant) (751 Points)
03 May 2018We have purchased portable cabin for our site office. i should consider it as furniture or office equipment?
please advise.
Jeeva Thangavelu
(Student CA Final )
(609 Points)
Replied 03 May 2018
Hello mam,
It will form part of Furniture & fittings.
Rudrayani Shedjale
(Assistant Accountant)
(751 Points)
Replied 03 May 2018
ok. depreciation rate as per company act for furniture is 18.10% ?
Jeeva Thangavelu
(Student CA Final )
(609 Points)
Replied 03 May 2018
Useful life for Furniture is 10 years as per Companies Act 2013. Which means the rates will be 9.5% under SLM and 25.89% under WDV method.
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