Depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 April 2013
I HAVE RECENTLY JOINED A COMPANY AND AM ASKED TO DRAFT THE BALANCE SHEET AS PER SCHEDULE VI.COMPANY IS A NEW COMPANY STARTED OPERATIONS THIS YEAR.ON THE ASSETS PURCHASED WHAT RATE OF DEPRECIATION SHALL I PROVIDE FROM WHERE WILL I GET THE DEPRECIATION RATE.
PLEASE REVERT BACK AS SOON AS POSSIBLE.ITS URGENT
THANKS IN ADVANCE.
PLEASE REVERT BACK AS SOON AS POSSIBLE.ITS URGENT
THANKS IN ADVANCE.
09 April 2013
Depreciation rates are available in schedule XIV of the companies act,1956 for which the following site, among others, can be seen.
https://www.aadisol.in/aca/images/bullentins/bt_23.pdf
https://www.aadisol.in/aca/images/bullentins/bt_23.pdf
29 May 2013
Depreciation is to be charged on the basis of number of days used. In case any asset not put to use, no depreciation is to be charged on other issues I agree with the expert
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