Depreciation is claimed from which date; whether invoice dtae or asset put to use.
I faced a problem as follows " i engaed in a new business for that i decided to demolish old building and Re modernize as per our specifications. For that i started the re-modernization process from Feb 2017 and all internal work completed in Feb 2017 and i sttarted my business immediately , but some external work is pending due to some circumstances it is completed in April 2017 and the constructor raised the invoice for total in April 2017. CAN I CLAIM DEPRECIATIOPN FOR THE FY 2016-17.
NOTE: Re Modernization includes all furniture and fixtures for that also bill is raised in April 2017
CAclubindia
