Depreciation - wip

From accounting point of view, the depreciation should be charged, as definition of depreciation as per AS-6 includes also wear & tear, passage of time.

However from tax point of view depreciation shud be charged only when the machinery is being put to use, so depreciation can't be claimed under the I-T act.

thanks for your reply

there is not tax - so I’ll ignore that bit

from an accounting entry perspective - what you saying is charge depreciation on EQUIPMENT from the date the machinery gets installed. but then as per AS-6, should we only start depreciating till they become operational or generate revenue

I am completely confused

thanks