Taking fixed asset under which block of asset
This query is : Resolved
16 February 2013
Sir,
At the time of recording Adversiting business accounting i have recoreded Erection of Hoarding under Fixed Asset on which i have charged depreciation @25% But problem is that while filling ITR4 Depreciation @25% is available under Intangible Asset (Block of Asset)
Can i choose this block for recording depreciation??
Please Help
Thanks
At the time of recording Adversiting business accounting i have recoreded Erection of Hoarding under Fixed Asset on which i have charged depreciation @25% But problem is that while filling ITR4 Depreciation @25% is available under Intangible Asset (Block of Asset)
Can i choose this block for recording depreciation??
Please Help
Thanks
16 February 2013
Just for availing the same rate you can not change the nature of status....how can you treat erection as intangible asset?...
16 February 2013
Sir,
Then what can i do ? At what rate i can charged depreciation on Erection of Hoardings??
Please Help
Thanks
Then what can i do ? At what rate i can charged depreciation on Erection of Hoardings??
Please Help
Thanks
16 February 2013
But why have you capitalized erection of hoardings.....if there is genuine reason of capitalizing it then you may use rate prescribed for machinery i.e.15%.
16 February 2013
ok
thanks
thanks
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- SFT Cash Deposit in Current Account
- FORM 26A APPLICABILITY
- Regarding TDS Applicability For Director Remuneration
- Value of property in capital gain
- Transporter Declaration form
- Multiple trade mark
- LC charges in relation to Asset purchased should be Capitalised ?
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
