Furniture or office equipment

Rudrayani Shedjale (Assistant Accountant) (751 Points)

03 May 2018

We have purchased portable cabin for our site office. i should consider it as furniture or office equipment?

please advise.

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5 Replies

Jeeva Thangavelu (Student CA Final ) (609 Points)
Replied 03 May 2018

Hello mam,

It will form part of Furniture & fittings.

satish (teaching) (2046 Points)
Replied 03 May 2018

furniture only

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.

Rudrayani Shedjale (Assistant Accountant) (751 Points)
Replied 03 May 2018

thank you.

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