if we purchased a plant and machinery as on 31.12.2018.
and not put to use that year..
IN this case depreciation is not allowed in that previous year BUT
in this previous year shall be included in block of assets or not?
pls enlight me...
an asset not put to use shudnt be charged to depreciation is just a part of learning.practically speaking no officer wud come and check if the asset is actually put to use or no. only thing wyd be checked is the invoice and the date to see if dep is charged properly.
so you can show it in the block and claim only 50% depreciation
CAclubindia
