16 February 2013
Sir, At the time of recording Adversiting business accounting i have recoreded Erection of Hoarding under Fixed Asset on which i have charged depreciation @25% But problem is that while filling ITR4 Depreciation @25% is available under Intangible Asset (Block of Asset) Can i choose this block for recording depreciation?? Please Help Thanks
16 February 2013
But why have you capitalized erection of hoardings.....if there is genuine reason of capitalizing it then you may use rate prescribed for machinery i.e.15%.
CAclubindia
