Abhishek Raj (Accounts executive) (28 Points)
26 April 2019Please tell me purchase of computer cartridge and parts will be recorded as printing expense or fixed asset. Please clarify me.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(182466 Points)
Replied 26 April 2019
Printing & stationery expense.
Navneet Chaudhary
(12 Points)
Replied 13 July 2021
anything whose useful life is less than 12 months is regarded as an expense. and whose life exceeds 12 months is regarded as a fixed asset. hence, the cartridge's useful life is less than 12 months that's why it is a revenue expenditure.
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 13 July 2021
Day to day operating expenses are expensed as well and not capitalised.
Naval
(Funding)
(27 Points)
Replied 16 July 2021
its consumable so should be book under Printing & Stationery head not in FA
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
CAclubindia
