dep treatment in company accounts

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CA Tushar Gupta (Querist)
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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

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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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.

CA Tushar Gupta

CA Tushar Gupta (Querist)
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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

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