When an asset is ready and put to use, the amount spent on the asset which was recorded under ‘Capital Work in progress’ account, shall be capitalised by debit to the appropriate ‘fixed asset’ account head and credit to ‘Capital Work in Progress’ account head.
Section 86: Capitalisation of Fixed Asset
The Karnataka Municipalities Accounting and Budgeting Rules, 2006.State Rules of Karnataka · 1964
Where this provision sits
| Act | The Karnataka Municipalities Accounting and Budgeting Rules, 2006. |
|---|---|
| Section | 86 |
| Marginal note | Capitalisation of Fixed Asset |
| Jurisdiction | State of Karnataka |
| Status | In force as published by the source |
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