Hi all,
What happens to the residual value standing in the asset a/c in the sudsequent years after the asset has been fully depreciated ie.. 95% of the original cost has been written off?
Regards,
Geetha
Geetha Gupta (Accountant) (325 Points)
31 July 2015Hi all,
What happens to the residual value standing in the asset a/c in the sudsequent years after the asset has been fully depreciated ie.. 95% of the original cost has been written off?
Regards,
Geetha
SANKARANARAYANAN
(CA)
(26 Points)
Replied 11 September 2015
If the 95% of the Asset value is written off and asset is not usable it shall be writen off in that year.
Geetha Gupta
(Accountant)
(325 Points)
Replied 12 September 2015
SANKARANARAYANAN Ji,
Thanks for this clarification.
What are the sections w.r.t this ?
Regards
Geetha
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