when is the depreciation charged on new plant & machinery of the existing machinery ?
is it the trial run/installed date / or the commercial production date?
answer with some cases in iT department
Saurabh Malpani (CA Final) (514 Points)
19 December 2011when is the depreciation charged on new plant & machinery of the existing machinery ?
is it the trial run/installed date / or the commercial production date?
answer with some cases in iT department
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 19 December 2011
Date on which it is put to use to be practical a certificate is taken from works engineer as to the date on which it is first put to use.
I think date of Trial Run is the appropriate date
CAclubindia
