04 March 2009
what is a qualified asset. a loan is taken on 30/03/2007 & utilised for construction of a building shed which is complete with in 28/02/2008. is it a qualified assets?
04 March 2009
hi reshma, it is not qualified asset. ita called a qualifying asset. as per AS 16 an asset that takes reasonable period to come to usable condition. in ur ques, the building shed is a qualifying asset.
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