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Depreciation on Livestock

This query is : Resolved 
 

(Querist)
28 July 2010

whether depreciation can be claimed on livestock?if yes at what percentage?


CA. SANAT PYNE (Expert)
28 July 2010

as per AS-6 livestock & some other specified assets are out of the scope of As-6 means such assets are not depreciable & hence no rate of dep. has been prescribed for the dep. of the same..

well.. practically such assests are shown in the books depending upon their market value.

practically u cn show & treat the same depending upon at wt value they are saleable in the market..



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