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Please Help: Depreciation

Posted Date : 05-Sep-2019 , 05:43:51 pm | Posted By: CASANSAAR

Category : Income Tax | Answers : 0| Comments : 0| Hits: 165

As assessee has made payments for construction of commercial building in cash amounting to Rs. 850000/- (all payments are above 10000/-) and Rs. 9092000 through account payee cheque. Now, how he should maintain building account in his books so that depreciation can be correctly charged. He is also spending some payments in cash and some through account payee cheques in further years. As an auditor, whether we have to check all payment entries in building account.

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