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Depreciation on Assets

This query is : Resolved 
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(Querist)
15 April 2008 UNDER CAPITAL WORK IN PROGRESS ASSETS PURCHASED IN THE MONTH OF JUNE'07. BUT CWP COMPLETED IN THE MONTH OF MAR'2008, SO, WE CAPITALIZED THE CWP AS ON 31-03-2008.

OUR DOUBT IS DEPRECIATION CALCULATED ON (SLM) AS ON DATE OF PURCHASE OF ASSETS OR CAPITALIZATION DATE WHICH DATE WE ARE TAKING FOR ACCOUNTING.

PLEASE SIR
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Jitender

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Jitender (Expert)
15 April 2008 from the date when asset is ready to use.
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CA Shailesh +91 9393926464

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CA Shailesh +91 9393926464 (Expert)
16 April 2008 Since, dep is calculated on Fixed Assets, capitalisation date is relevant
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