dep treatment in company accounts
This query is : Open
15 September 2010
If a part of Invertor is sold during the year so how we calculate loss/profit & depreciation for that year.according to companies act.
For Example Cost of Invertors(not known the no of invertors) is 100000 dep upto 31.3.2009 is 40000 & on 30.6.2009 a invertor is sold for Rs. 5000,the actual cost of that invertor is not known as a single head is used for all invertors how dep & loss/profit on sale of invertor is calculated according to companies act,will it affect deffered tax also
For Example Cost of Invertors(not known the no of invertors) is 100000 dep upto 31.3.2009 is 40000 & on 30.6.2009 a invertor is sold for Rs. 5000,the actual cost of that invertor is not known as a single head is used for all invertors how dep & loss/profit on sale of invertor is calculated according to companies act,will it affect deffered tax also
15 September 2010
The companies act identifies a single asset & from the fixed asset register can tell you the exact cost of one inverter & depreciation charged thereon.
16 September 2010
but many times we capitalise many item with the same head and its not tracable to a particular asset so how we calculate exact cost of a single asset and a sepearte register is also not maintained by the client so how i recognise the sale & dep & profit/loss in the books.please reply
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- Gift Received from nonblood relative
- Section 50-fixed asset-->building ceases to exist
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Reprocessing of rectification order AY 2025-26
- Putting a heading on received mail
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Consolidated financials
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
