Depreciation On CWIP
This query is : Resolved
Ashwani Goel
(Querist)
21 May 2010
Suppose I have buiding under Construction, which is shown under Capital WIP. Will depreciation be allowed on CWIP as per Companies Act and As per Income Tax Act.
CMA Ramesh Krishnan
(Expert)
21 May 2010
No depreciation allowed from CWIP without capitalised
21 May 2010
Depreciation not allowed on W I P.
CMA.Palani Arumugam
(Expert)
21 May 2010
Agreed. Depreciation can not be claimed on CWIP.
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