Depreciotion on assets where not installed /put to use
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 July 2013
Dear Experts,
Please confirm is depreciation could be claimed on generators, AC etc even though assets has not been installed.
I.e assets has been purchased during 12-13 but installation has not done till 31 Mar,13.
We are a company maintaining books as per Companies Act.
Regards
Please confirm is depreciation could be claimed on generators, AC etc even though assets has not been installed.
I.e assets has been purchased during 12-13 but installation has not done till 31 Mar,13.
We are a company maintaining books as per Companies Act.
Regards
08 July 2013
if it is not installed then it was not ready to use and not used also.
in my view no depreciation should be provided for 12-13 FY.
in my view no depreciation should be provided for 12-13 FY.
08 July 2013
If installation not completed it cannot be depreciated and it is treated as capital work-in-progress
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