Rate of depreciation under the companies act, 2013
This query is : Resolved
08 January 2016
The company office is moving to new office premises which is hired under long term lease for 5years. The cost of interior work including false ceiling & partitions, flooring,painting & miscellaneous work is being capitalised under building.
The query is regarding the depreciation to be applied under the companies act, 2013 as per part c of schedule II.
Can the company choose to write off the building over the period of lease period of 5 years? instead of 3years option mentioned in the schedule under others category
The query is regarding the depreciation to be applied under the companies act, 2013 as per part c of schedule II.
Can the company choose to write off the building over the period of lease period of 5 years? instead of 3years option mentioned in the schedule under others category
08 January 2016
This can't be capitalized under building. Treat it as capital expenditure and charge it over the period of lease 5 years.
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