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depreciation

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Querist : Anonymous

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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?
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CA SURENDRA KUMAR RAKHECHA

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CA SURENDRA KUMAR RAKHECHA (Expert)
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.
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