Depreciation when assets wdv below

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

26 May 2017 Dear Experts,
an asset WDV is Re. 71

pls clarify :- should i charge depreciation by Re. 70 and left Re. 1 till tbe asset is exist.

Dep. A/C Dr....70
To Asset........70

however if we do charge excess dep. then specified percentage. the excess dep. will be disallowed during the income tax assessment.

so pls let me know should i dep. by 70 or should i charge dep. 15% per year till the asset WDV left Re. 1

what to do in this case.....

Thanks
ASAP

Expert : Anonymous

Expert : Anonymous (Expert)

26 May 2017 Charge 15% until balance become Rs.1