Hi,

Wanted to understand the provisions of companies act for depreciation:

If we have purchased any asset, and it is ready to use, but it is not put to use, whether the depreciation should be charged on the same?

For eg., our company has purchased a licenced software to be used in new product. The software cost will be depreciated in the due course.

The product in which it is to be used is under developement, and not yet ready. Hence, the software can also not be used till the time the product is ready.

In such a situation, what is the depreciation treatement for the software licence cost?

Regards,
Rajen

Hi all,

Can anyone let me know the following query on depriciation:

One of a company is not showing Depriciation for last 3 years whereas it has a fixed asset base of a value of ~ INR 20 lacs.

Although as per Companies Act, Section 205 makes it compulsory to charge depriciation before declaring dividend but as company doesnt declare dividend so this section is not applicable.


1.Is that possible to not charge depriciation on F.A.

2.What is FORENSIC ACCOUNTING

As a foreign co.we need to file form 52 with ROC along with foreign accounts as well as indian accounts...

Our company does not maintained any accounts as compnay income is calculated under deemed profir u/s 44 BB.

Can we file foreign accounts with RBI ?

RBI will accept our Form 52?

KInldy advise

Chetan

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Regards,
Praveen Kumar.T

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