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Portable House/Cabin Is Asset or what

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 November 2010 WE have Purchas a Portable HOuse/Cabin for the accomodation of Workers at site, this to consider as assets? If assets in Which Head and what should be the Rate of Depreciation.

And pls give the entry for the following example

Portable House/Cabin 60000

Transportation from the manufacturer to the site 40000

and construction of the base to install the Portable House/cabin 5000
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
09 November 2010 In my view it should go under the head Shed & Building and rate of depreciation 10%.
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taxindiaconnect

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taxindiaconnect (Expert)
09 November 2010 It is a temperory structure to be charged off @ 100% in the first year itself.
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