Deletion of fixed assets
This query is : Resolved
CA Utkala Meher
(Querist)
29 September 2012
How we should calculate the depreciation and loss/profit on sale of fixed assets. what is the correct way, should we take the wdv value of the assets. Pls describe me the full procedure and if possible also tell me the reason behind doing that.
Pankaj Gupta
(Expert)
29 September 2012
Hello dear.... calculation of depreciation is as follows...
1)First divide all the assets in different blocks.
2)In each block add all the assets purchased during the year and subtract the sale price of all the assets sold during the year.
3)The value arrived at on 31st march is the written down value. Charge depreciation on this wdv.
4)The adjustments of loss and profits is automatically made in the written down value.
1)First divide all the assets in different blocks.
2)In each block add all the assets purchased during the year and subtract the sale price of all the assets sold during the year.
3)The value arrived at on 31st march is the written down value. Charge depreciation on this wdv.
4)The adjustments of loss and profits is automatically made in the written down value.
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