Our company is building its product from the last two years and still the work in progress. We have not started any sales or generated any revenue in the last two years. Please confirm whether it is mandatory to charge depriciation on fixed assets.
Jacky (ACCOUNT EXECUTIVE) (219 Points)
24 March 2014Our company is building its product from the last two years and still the work in progress. We have not started any sales or generated any revenue in the last two years. Please confirm whether it is mandatory to charge depriciation on fixed assets.
CA. Roopali Kadam
(Jobs on assignment basis.)
(1453 Points)
Replied 24 March 2014
Depreciation is not charged on WIP assets
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