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Change in method of depriciation

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(Querist)
21 February 2008 if any company has changed its accounting policy i.e. from wdv to straight line method on year end(31-03-2008) then whether loss on sale of machinary ,sold on 01-10-2007 & depriciation thereon is liable to change retrospectively or not, is retrospective change is required to be given on existing machine on year end only
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CA. GOPAL SONIKA

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CA. GOPAL SONIKA (Expert)
21 February 2008 The retrospective change is to be given to the asset sold during that financial year.
The retrospective change is not necessarily to be given on year end only.
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CA Saurabh Maheshwari

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CA Saurabh Maheshwari (Expert)
21 February 2008 IF THERE IS CHANGE IN METHOD OF DEPRICIATION IT SHOULD BE CONSIDERED RETROSPECTIVELY IRRESPECTIVE WHETHER THE ASSET SOLD DURING THE YEAR OF AT YEAR END
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