Query

SINCE PLAT HAS PUT TO USE DURING THE YEAR THEREFORE ITS NECESSARY TO CHARGE DEPRECIATION ON PLANT
 

yes depreciation should be charged

yes charged

Yes. As per Accounting Standard 6, depreciation to be provided once the asset has been put to use.  

hi

i m kunal, student of ca final appearing for may -2010 exam 

i want to know whether is it  neccesary to write all four papers in a group in order to claim exemption in one paper of that particular group.                                                                                                                                                                       

please help me by giving your valuable sugeestions.

@ kunal 

Yes, it is necessary to attempt all xamz of the group to get the xemption.......

yes sir,,

it is necessary to charge depreciation on the asset because the plant iss already "put to use"

Dear all
Can anybody guide me on this ,

 Entry tax on purchase of assets,  tax being  paid after one year . how to treat the same in books for current year .

@ sathish : kindly clarify your query... first of all, what do you mean by tax paid becz if we purchasing some capital assets we claim that input not paying that.....

i think depreciation should be charge as plant is put to use in a particular year.

yes it is important to attempt all the four papers for exemption