Fixed assets
This query is : Resolved
Harsh Nathani
(Querist)
07 November 2012
Suppose a new Building has been constructed(Transfer from CWIP to Fixed Assets).So, Whether the Electrical Fittings like Lightning Bulbs should be capitalised in building or seperately as Electrical Installation?(Becoz depreciation rates are different)
Amol S Joglekar
(Expert)
07 November 2012
Lighting arrangement per se should be classified separately. (Unless in the case of ready made flats where a lumpsum consideration is paid for the flat which comes along with electrification system, drainage system, security system, drinking water system and so on)
Harsh Nathani
(Querist)
07 November 2012
Actually its an administration building constructed within the factory premises.In that case ,under which head the Lightning arrangement should be classified? Is it Electrical Installation carrying 4.75% SLM depreciation rate?
Amol S Joglekar
(Expert)
07 November 2012
I think... it should be classified as such... electrical installation.
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