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Q. > Please Help: Temporary wooden structure
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.
answered Jun 13, 2012 by Rishabh Upadhyay , Chandigarh
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.
answered Jun 13, 2012 by CA Satuti Mahajan , batala
Yes, the applicable rate is 100%.
answered Jun 28, 2012 by Vikash Kumar Jha , Cuttack
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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