Residents welfare association

Arun (Querist) 01 April 2015 This query is : Resolved
Dear Sir,
I have a query relating to RWA and the society assets. we have registered our owners association with registrar of societies and now builder has handed over the property along with the clubhouse and other amenities.
My query now is on the capital assets that now Society owns from the handover process. can society eligible to claim depreciation of those assets and take them into the society books.

Are there any decided case laws

Thanks
Arun

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Jayaraj Poojari (Expert) 01 April 2015
Consult your Chartered Accountant who looks after the Societies Accounts.

Rajendra K Goyal (Expert) 01 April 2015
Raise query in CA Club of India.

Devajyoti Barman (Expert) 01 April 2015
you better visit caclubindia.

Raj Kumar Makkad (Expert) 01 April 2015
Definitely society can claim for depreciation and all other statutory benefits as the properties now belong to it.

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