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Depreciation On CWIP

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(Querist)
21 May 2010 Suppose I have buiding under Construction, which is shown under Capital WIP. Will depreciation be allowed on CWIP as per Companies Act and As per Income Tax Act.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
21 May 2010 No depreciation allowed from CWIP without capitalised
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CA. Gurdeep Singh Chawla

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CA. Gurdeep Singh Chawla (Expert)
21 May 2010 Depreciation not allowed on W I P.
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CMA.Palani Arumugam

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CMA.Palani Arumugam (Expert)
21 May 2010 Agreed. Depreciation can not be claimed on CWIP.

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