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Capitalization of assets help needed

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Sreejith. M

Sreejith. M (Querist)
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01 April 2016
Our society purchased split Ac on 22/03/16 and Installation on 26/03/16. On which date I have to account the same. The installation bill date is on 26/03/16. Kindly help

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 April 2016 You need to Capitalize the AC on 26.03.2016 and depreciation will also start from 26.03.2016.

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Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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01 April 2016 Yes Capitalize on Bill date in your book of accounts.

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