Audit - fixed assets

I think till the time the 40% get completed it should be shown as WIP & then it should be capitalised & depreciation should be charged on it.

Dear Shivam 

Kuldeep is correct but there is another way of capitalising it. 

You can show it as completed boundry wall (For 60%) in the current year and you can treat the rest 40% as addition to completed boundry wall in the next year. Hence you will be able to take the benefit of Depriciation in your accounts from current year itself. 

I hope it will help you 

Regards to you