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Depreciation as per companies act

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(Querist)
29 July 2014 Dear sir,

Please reply whether depreciation is allowed in the year of sale of asset ? proportionately.
And what are the new Deprecaition rates as per companies Act 2013.


Thanks
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
29 July 2014 Yes depreciation to be taken on Assets till the date of sale on days basis under Companies Act 1956.

Depreciation rates as per CA 2013--

https://caclubindia.s3.amazonaws.com/cdn/files0512/496179_59179_depreciation_rate_chart_companies_act_2013.pdf

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