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Depreciation rate on under construction building.
Whether Dep Charged on under construction building as per company act .
if yes please mention rate of depreciation.
Replies (1)
No need of any depreciation till the asset is ready to use. Here the entire asset is in WIP stage. so No question of depreciation. If it is partly compleated and is ready to use without the aid of the remaining uncompleated portion then that compleated portion only is elegible for depreciation.
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