CAPITALISATION OF ASSET RECIEVED AS GIFT

At Rs. 100.  just to show that an asset is existing.

Yes, u've can show it at nominal value of Rs. 100... like ambulances, if donated, are shown by hospitals

The above replies are correct as per AS which follows HISTORICAL COST METHOD...

JUST WANT TO ADD THAT THE SAME MIGHT NOT HOLD GOOD IN CASE OF IFRS DUE TO FAIR VALUE CONCEPT.

But can it be capitalised?

could any one put more light on the treatment for gifts received

Dear Rameez,

It will definately be capitalized but at a nominal value..

Say Rs. 10, no point in claiming DEPRECIATION I WOULD SAY.