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Capitalization of assets

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18 October 2011 Asset is received and put to use on 05.08.2011 but the date of invoice is 23.09.2011. In this case what would be the date of capitalization i.e 05.08.2011 or 23.09.2011.

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CA PRAVIN

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CA PRAVIN (Expert)
18 October 2011 In this case Date of actual put to use of asset is 05-08-2011, so capitalisation date is 05-08-11. Bill may be received later.

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