Depreciation
This query is : Resolved
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?
11 September 2008
Whereever the assets are in use for the business the depreciation can be charged.
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