Depreciation

Dear All,

My company is in power sector, of which different projects are in construction stage.The company has transferred the amount from CWIP to different assets.So, now from this financial year, shall the company is allowed to claim the depreciation on the allocated assets regardless of the fact that,projects are in construction stage?

Is there any requirement to provide depreciation / not to claim depreciation during construction period?

Are we required to prepare the P&La/c or expenditurea/c during construction period.

Kindly reply ASAP.

Thanks

Replies (1)
U CANNOT CLAIM DEPRECIATION UNTIL THE ASSET IS NOT PUT TO USE AND IF A ASSET IS UNDER CONSTRUCTION, ONE CAN NOT PUT THIS INTO USE, SO U SHOULD NOT TRF VALUE FROM CWIP TO RESPECTIVE ASSET UPTO COMPLETION.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
30 September 2026
Senior Accountant

Codeboard Technology

Chennai

B.Com

View Details
Company
23 October 2026
Sr. Accountant

SANKARAN & KRISHNAN

New Delhi

B.Com

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
ARTICLESHIP 20 October 2026
CA ARTICLE

AMKN & CO

Noida

CA Inter

View Details
Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details
Company
08 October 2026
Accounts and Tax Associate

POOJA R TELI & CO

Pune

CA Inter

View Details
Company
12 October 2026
Chartered Accountant - Internal Audit

HKC | Chartered Accountants & Business Advisors

Ludhiana

CA

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details