Asset value less then 5000


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Querist : Anonymous

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Querist : Anonymous (Querist)
20 May 2016 Dear sir,
Our company has purchased the asset
Value 4689/- plz let me know as per sch.
ll what would be treatment of this said asset & how
The dep. Will be charge,

Regard
Rohit jain

20 May 2016 Charge the depreciation based on use full life retaining 5% residual value.

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 May 2016 Sir should i charge dep. 5000-250/10,
like this,

Rupesh Jain (Expert)
20 May 2016 yes you have to follow the new company act dept. method on the basis of the usefull life of assets.

20 May 2016 Yes if it has 10 years life.


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