Can be depreciate Captial workin progress (fixed asset) before the capitalization date, which means fixed asset under constraction.
Thanks,
Mohan
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Capital work in progress (fixed asset) depreciaton process.
Replies (5)
No you can not. Only assets capitalized can be depreciated. Hoever you can write off the CWIP and that will be of capital nature.
U may calculate depreciation as per put in use formula of Conan is act
U may calculate depreciation as per put in use formula of Companies act
Capital work in progress can't depreciated untill it become useful or complete whichever is earlier
Asset ready for use or put to use only can be depreciate.not CWIP....
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