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Depreciation slm value below rs.5,000/-

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20 May 2013 Dear Ganeshbabuji if a furniture purchased on 01.04.2011 for Rs.5200/- so 1 year Depreciation value for year 2011-12 Rs.329/- balance asset value Rs.4871/- (5200-329). For the year 2012-13 depreciation Rs.329/- or Rs.4871/- please reply
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
20 May 2013 Note 8 to Schedule XIV provides that if the ACTUAL COST of an asset does not exceed Rs. 5,000 then depreciation shall be charged at 100%.

The words used are 'ACTUAL COST" and NOT written down value.

In your case, the actual cost exceeds Rs. 5,000 so this clause is not applicable.

Depreciation will NOT be charged at 100% even though WDV is less than Rs. 5,000.
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