Date to be considered for depreciation

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 August 2013 Purchase of Car
Date : 31.12.2012, Amount : 1,10,000/-

Capitalized Expenditure (RTO & Other)
Date : 15.01.2013, Amount : 35,000/-

What will be the date for calculation depreciation as per companies act on both? will it be different or on both it will be from date of purchasing car.

Ganeshbabu K

Ganeshbabu K (Expert)
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25 August 2013 1)date of capitalization is from the date from which asset is used by company,,if company started using car in 31.12.2012 it can be capitalized on 31.12.2012

35000 can be capitalized from 15.01.2013

depreciation caluculated on no. of days in use

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