Used laptops purchase
sanket shinde (2 Points)
22 May 2023
can i treat the purchase of used laptops in companies as fixed assets or do I have to treat this under business expense?
3 Replies
CA Rakesh Ishi
(Working at Private Company)
(8202 Points)
Replied 22 May 2023
I can provide you with some general guidance.
If the used laptops meet the criteria for fixed assets, you can treat them as such Fixed assets are long-term assets that are used in business operations and have a useful life of more than one accounting period.
CA Aakarsh Jain
(CA)
(10431 Points)
Replied 03 June 2023
If there life is more than a year then show them in fixed assets
Recent Topics
- Submit ommited invoice of previous year
- Need your valueble insight
- GSTR-9 Invoices
- Agricultural Business Loss
- Reporting in gstr9 of ITC of Previous year reverse
- Tax on Reimbursement of House Rent
- MAHARASHTRA CHARITY COMMISSIONER WEBSITE
- Explanation 3 to section 11(1) read with section 4
- Ammendment in Partnership On Death of Partner and
- TDS Provisions applicability Tax Audit Individual
Related Threads
CAclubindia
