Is additonal depreciation allowed on jigs & dies ?
Sagar Dave (CA Final, CS Executive) (53 Points)
23 July 2015Is additonal depreciation allowed on jigs & dies ?
Z
( )
(2960 Points)
Replied 23 July 2015
In my understanding Jigs and Dies are essential component of the machinery without which the machine can not function and hence it should be treated as part of machine and be capitalized in machine and depreciation be claimed on it in the same way.
The above us not in nature of loose tools and hence not a revenue expenditure.
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