Depreciation
This query is : Resolved
15 July 2016
Hi
If Flat purchased is under construction then we have to required do Depreciation entries in Tally?
What Entries should be done for depreciation on laptop how much % plz tell me with DR CRn or under which groupe or Ledger.
If Flat purchased is under construction then we have to required do Depreciation entries in Tally?
What Entries should be done for depreciation on laptop how much % plz tell me with DR CRn or under which groupe or Ledger.
15 July 2016
Flat under construction will have to be shown as Capital work in progress and thus depreciation cannot be claimed for the same. Laptop should be considered as computer and the depreciation as per Income tax act is 60% and as per companies act is 3 years.
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