Portable House/Cabin Is Asset or what
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 November 2010
WE have Purchas a Portable HOuse/Cabin for the accomodation of Workers at site, this to consider as assets? If assets in Which Head and what should be the Rate of Depreciation.
And pls give the entry for the following example
Portable House/Cabin 60000
Transportation from the manufacturer to the site 40000
and construction of the base to install the Portable House/cabin 5000
And pls give the entry for the following example
Portable House/Cabin 60000
Transportation from the manufacturer to the site 40000
and construction of the base to install the Portable House/cabin 5000
09 November 2010
In my view it should go under the head Shed & Building and rate of depreciation 10%.
taxindiaconnect
(Expert)
09 November 2010
It is a temperory structure to be charged off @ 100% in the first year itself.
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