Can any one help me,
What is difference between ready to use and put to use ???
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What is difference between ready to use and put to use ?????
Replies (3)
After an asset is taken to the place of production and it is installed.., then it is called "ready to use". Whereas when an asset is used in production then it is termed as "put to use"
An asset which is complete in all aspect...that its almost ready to use ( yani bankar complete ho chuki hai bus use karna baki hai abhi but ready ho chuki hai use karne k liye) but not have been put to use...
Further if an asset is ready to use and not actualy been used by assesse then too he has to claim depreciation on it as per decided case law....
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