How to capitalise assets under Companies Act to Claim the Depreciation.
What sections are applicable for this?
Giridhar S Karandikar
(Team Lead)
(7543 Points)
Replied 26 April 2012
There is no section for capitalizing of the assets under the Co's Act. You will have to follow the principles laid down in AS10 Accounting for Fixed Assets & accordingly capitalize the assets.
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