Block of asset

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 April 2014 whether an asset purchased in current yr. but to b used after few years should be added in the block of asset? if it should b added then for the purpose of claiming dep. dp we need to check the asset individually? coz we cannot claim dep. on the asset not being used

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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30 April 2014 From the language used in the query; it seems that the asset has not been installed and you may show it as CAPITAL WORK IN PROGRESS.
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Also it seems it is a hypothetical question because the description about the asset has not been explained.