10 November 2009
I asking for you sir that where aggregate of assets were purchased during the year more that rs. 5000/- but individual assets was of rs. less than rs. 5000/- . what was treatment of depreciation in the company act. isn't is difference in treatment of depreciation of rs. 5000/- in the plant & machinery and other than plant & machinery.
Please given to me answer for above query of write off position also. (if less than rs. 5000/- in both cases)
10 November 2009
Individual assets which is less than Rs5000/- has to be fully depreciated under the companies act. First capitalised the assets and thereafter at year end depreciate 100%. This is same in respect of all assets i.e. for P & M and other than P&M
CAclubindia
