Hello Friends, what is the rate of depreciation as per company act for bamboos used as a stake in agriculture activities carried by company. These bamboos are used in said activities around 3 years. The company act provides 100% dep in case of “Purely temporary erections such as wooden structures” but it is provided under the heading of building. Can I claim 100% dep on such bamboos? (Normally these stakes are used in farmhouse to support the plant) .
Yes 100% Depreciation to be provided.
Thnks Shruti ...
but you have any justification about the same please post here , becoz the said stakes are not a building or part of any building and further those bamboos has time span arround 3 years. in such case is it sound prrctice to provide 100% dep...
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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