TMI BlogAccounting of Electrical FittingsX X X X Extracts X X X X X X X X Extracts X X X X ..... Good evening everybody, I need one clarification for accounting of electical fittings. If I have purchased one Machinery then how can i account the electrical fittings like cable, switches, A/C, Cabin related to that machine. Whether accounted with the machine(value of machine will be increased) or separately grouped under Plant Machinery head? Please solve my doub ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t. - Reply By Deepak Nagori - The Reply = Dear Surya, Value of cable and switches can be added to the cost of the machine but A/c needs to be accounted as Furniture and Cabin as building. Regards CA Deepak Nagori - Reply By Deepak Nagori - The Reply = Dear Surya, Cable and switches are part of P M. A/C has to be accounted for as furniture. Cabin is to be accounted as Building. Regard ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s CA Deepak Nagori - Reply By Surya Moorthy - The Reply = Thank You Mr. Deepak - Reply By Vivek Harsh - The Reply = If such item improves the efficiency of machine such amount to be capitalized. On contrary they can also be treated of Revenue nature and claimed as deduction. - Reply By Vivek Harsh - The Reply = However A/C needs to be capitalized. - Reply By Vivek Harsh - The Reply = How ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ever A/C needs to be capitalized. - Accounting of Electrical Fittings - Query Started By: - Surya Moorthy Dated:- 18-11-2011 Accounting - Auditing - Got 6 Replies - Companies Law - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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