Fixed assets
This query is : Resolved
01 August 2013
In a construction company we purchased a cabin (Container) for rs. 2.5 lac which uses as office at construction site. Which type of assets is this. What rate of depreciation should be applicable for this?
Need direction
Thanks in advance
Need direction
Thanks in advance
Guest
Guest
(Expert)
02 August 2013
02.08.2013
Dear Sir / Madam,
The Cabin that is being used at the construction site is to be treated as a Fixed Asset to be depreciated over the envisaged period of construction at the site. If the period is not ascertained, you should provide for Depreciation @ 15% per annum on reducing balance method.
Regards,
Dear Sir / Madam,
The Cabin that is being used at the construction site is to be treated as a Fixed Asset to be depreciated over the envisaged period of construction at the site. If the period is not ascertained, you should provide for Depreciation @ 15% per annum on reducing balance method.
Regards,
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