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Depreciation

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shanesh m (Querist)
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13 October 2013 How I need to treat depreciation on my fixed assets
Entry is
Depreciation A/C..........Dr
Fixed Asset
But my question is
1. How and where I want to pass entry
2. How Much percentage I need to take as depreciation
3. When I need to pass entry

kindly reply

Ganeshbabu K

Ganeshbabu K (Expert)
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13 October 2013 1)You need to pass entries in your books of accounts(what ever accounting package you are using)
.
.
2)Depreciation miminum rates are prescribed by companies act in Schedule XIV kindly refer to the same for rates
.
.
https://www.caclubindia.com/share_files/depreciation-rates-as-per-companies-act-50830.asp#.UlpEOFCnqWY
.
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3)Generally depreciation entry can be passed at the year end after duly updating the Fixed Asset Register

shanesh m

shanesh m (Querist)
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13 October 2013 thank you for the information
I have some more dough's

if you don't mind could you please contact me in my mail id
shaneshm409@gmail.com

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