HI
I am salaried person and i do Stocks Trading(both Short Term and Long Term). So can i show my personal computer as Bussiness expense(here i am treating Trading as Bussiness).
Thanks in advance..!!
pavan
pavan (Engineer) (38 Points)
17 January 2012HI
I am salaried person and i do Stocks Trading(both Short Term and Long Term). So can i show my personal computer as Bussiness expense(here i am treating Trading as Bussiness).
Thanks in advance..!!
pavan
KARANDEEP,CA,B.Com,CS FNL
(JOB)
(457 Points)
Replied 17 January 2012
Hello Pavan ji,
You can show your computer as an assets of your business and you should introduce the capital in kind(means computer) in the business to show its an assets.
Thanks & Regards
Karandeep
Narendra choudhary
(mumbai)
(109 Points)
Replied 17 January 2012
No, you can't show computer as expenses because it is an asset.
You show this in assets and claim 60% Depreciation as Expenses.
pavan
(Engineer)
(38 Points)
Replied 17 January 2012
Thanks Narendra/Karandeep for you valuable comments..
can you please also give ur comments on below Quires..
Capital Gains = - 60,000
I am newbiw to corporate world.. So Hanging out with so many Quires in my Mind :)
-pavan.
CA Sumiit B Nagpal
(Business)
(1077 Points)
Replied 17 January 2012
Dear Pavan
Yes u can show it as an asset and laptop bill will be enough evidence. and you can claim depriciation on it i.e. rs. 60000 under section 32 as a business expense and not as a capital gain deduction.
pavan
(Engineer)
(38 Points)
Replied 17 January 2012
Hi sumeet,
Thanks for your comment.
can you please commetn wheather i can set off Bussiness expense for Anual Income..?
-pavan
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 17 January 2012
Originally posted by : pavan | ||
HI I am salaried person and i do Stocks Trading(both Short Term and Long Term). So can i show my personal computer as Bussiness expense(here i am treating Trading as Bussiness). Thanks in advance..!! pavan |
to show the computer in business as asset, you need to have a valid business which has all features of business,
share trading done by individuals is capital gain or speculation income, but its not a pure business income, at some places share trading done at F&O is to be "treated as business income"
personal effects used for such share trading can not be allowed for depriciation purpose.
CA Sumiit B Nagpal
(Business)
(1077 Points)
Replied 18 January 2012
Originally posted by : U S Sharma | ||
Originally posted by : pavan HI I am salaried person and i do Stocks Trading(both Short Term and Long Term). So can i show my personal computer as Bussiness expense(here i am treating Trading as Bussiness). Thanks in advance..!! pavan to show the computer in business as asset, you need to have a valid business which has all features of business, share trading done by individuals is capital gain or speculation income, but its not a pure business income, at some places share trading done at F&O is to be "treated as business income" personal effects used for such share trading can not be allowed for depriciation purpose. |
Agreed, So if you are in business of share traing then u can claim depriciation as a business expense
Ram Chandra
(Finance Officer)
(29 Points)
Replied 18 January 2012
If you are trading in share and duch kind of thing than you can show computer in your balance sheet under fixed assets and expenses related to computer may be your business expenses and also depreciation 60% (more than 180 days) would be claimed for expenses
pavan
(Engineer)
(38 Points)
Replied 18 January 2012
HI all,
have doubt.. can you please help me ..
As i am a salarid person and i do part time Trading, so my shares Trading consider as Bussiness..?As unless and Until it is treated as Bussiness i don't think ,i can keep Personal computer as bussiness asset and claim 60 % Depreciasion.
Thanks in advance..!
-Pavan
Sandeep Himatsingka
(SCM-Head)
(85 Points)
Replied 07 May 2012
I am a salaried person but with little difference.
During 2011-12, for approx. 8 months I was getting salary & balance 4 months i have been doing part time trading.
Can I show Computer as "ASSETS"?
Can I claim DEPRICIATION?
Thanks
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