Please Help: Temporary wooden structure
Posted Date : 12-Jun-2012 , 01:26:07 pm | Posted By Yogesh
My client has charged 10% depreciation on temporary structure from last several years and no body noticed that. Can i write off same asset in current year since applicable rate is 100%. please guide.
Category : Audit | Answers : 3 | Comments : 0 | Hits : 255
Answers
Answer By: Rishabh Upadhyay
Yes, you can take the benefit of the remaining 90% value as n expense in the current year, provided you have sufficient evidence to prove that the same were temporary in nature.
Answer By: CA Satuti Mahajan
Yes, the applicable rate is 100%.
Answer By: Vikash Kumar Jha
If the conditione is like that then what ever the value shown in balancesheet after charging depreciation @ 10% from last several year that should be write off during the current year if you can prove that its available for 100%.
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