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Depreciation

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(Querist)
10 September 2008 Whether Depreciation on Building(Constructed and still construction going on), Computer & Printer(Used for the Project), Motor Car(Used for the Purpose of the Project) and Plant & Machinery(not used) will be charged for the financial year 2007-08 if the production of the company had not been started till 31.03.2008 as per both the Companies Act and the Income Tax Act?
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
11 September 2008 Whereever the assets are in use for the business the depreciation can be charged.
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