Factory building not shown in assets
Querist : Anonymous
From the last six year i am running factory but i have not shown factory building in assets yet now i want to
show it in assets, in this regard what accounting entry will be passed also
Tell me how to know the exact price of building as per IT act. To be charged depreciation,
Regard
Mukesh kalra
If you claim that you dont have the details as to cost, you can get the factory building valued by Govt Approved Valuer.
Querist : Anonymous
If i show the factory building (asset) in books then any consequences
Querist : Anonymous
2009 i had purchased the land and constructed the factory on it now i have not any record of cost incurred in construction of factory. Plz tell me weather valuer will valued the factory of 2009 or existing cost,
Querist : Anonymous
If i valued the proprety as on 2009 then can i claim the depreciation of 2009, 2010, 2011 till 2015 however assessment has already been done
02. Whether you claim the depreciation or not, the WDV as on say 01/04/2016 shall be taken into books of accounts.
Querist : Anonymous
No earlier return can be revised as the assessment has already been done therefore No question of revision. Plz clarify weather depreciation shall be deemed to be charged in earlier year
Querist : Anonymous
capital accounts CR......
is it correct
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