Calculation of depreciation
This query is : Open
CA Prateek Garg
(Querist)
15 December 2012
as per companies act is it compulsory for company to depreciate new assets purchased during the year on pro rata basis...or it can be charged for full year..?
CA Manish Soni
(Expert)
15 December 2012
Depreciation is computed on pro rata basis as per schedule XIV on any addition of fixed asset during the year.
CA Prateek Garg
(Querist)
16 December 2012
is it compulsory...??
CA Prateek Garg
(Querist)
16 December 2012
and if it is compulsory then how we should rectify this mistake...??
from last 8years co. charged depreciation for full year...not on prorata basis.
from last 8years co. charged depreciation for full year...not on prorata basis.
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