depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 August 2010
what is the rate of depreciation on Go kart vehicles? can 100% be clamied as the vehicles has life less than one year?
what is the rate of depreciation on Go Karting Tracks? can tracks be considered as part of Land and no depreciation is to be charged?
what is the rate of depreciation on Go Karting Tracks? can tracks be considered as part of Land and no depreciation is to be charged?
02 August 2010
Any asset the life of which is restricted to one year is liable to be written off in the books hence 100% depreciation can be claimed.
It is like revenue expenditure because next year also the same expenditure are likely to be incurred to use the tracks.
Roads are considered as plant hence depreciation can be claimed.
It is like revenue expenditure because next year also the same expenditure are likely to be incurred to use the tracks.
Roads are considered as plant hence depreciation can be claimed.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Gst registered proprietorship firm
- Price inclusive or exclusive of GST while made entry in P& L Account
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Minimum tax payable to file Updated return
- UDIN ISSUE
- GST ISSUE OF INPUT AND OUTPUT GST
- SALARY CAN BE CAPITALIZE
- GST Intimation due to Government took possession of Business Premises under PPE Act
- Tax rate change regarding
- Non filing of I T Returns
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
