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Capital Work - in - progess

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(Querist)
22 June 2011 A company has not started its operating activities but has incurred some expenditure for fixed assets such as computers, printers, etc. whether this will be shown under fixed assets or capital work-in-progress and if under fixed assets whether depreciation under companies act to be claimed.
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CA KRISHNA KUMAR DARUKA

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CA KRISHNA KUMAR DARUKA (Expert)
22 June 2011 If the assets have been put to use then depreciation should be charged.
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shakuntala chhangani

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shakuntala chhangani (Expert)
24 June 2011 Hi Hitesh, dep. can not be provided till the asset is ready for commercial use (AS 10).
Regards, CA Shakuntala Chhangani
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