Clarification regarding sec32 of it act
This query is : Resolved
12 September 2014
Dear all....wat was the difference b/w ready for use nd put to use.plz clarify
12 September 2014
Ready for use means machinery installation and every thing completed.
Due to some reason 2 month production not done after that production started then put to use concept arises.
Ex2.
Car is ready for use but not used it kept simply in home.
Depreciation allowed only when assets used for business.
Due to some reason 2 month production not done after that production started then put to use concept arises.
Ex2.
Car is ready for use but not used it kept simply in home.
Depreciation allowed only when assets used for business.
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