Depreciation
This query is : Resolved
ramesh vadnala
(Querist)
22 May 2008
While caculating depreciation as per Companies act for the year i found some bills of erlier year were taken into account. how to calculate the depreciation for those bills, from the date of bill or what?
S.Srinivasaraghavan
(Expert)
22 May 2008
Alreadt answered
Late CA Sampat Jain
(Expert)
23 May 2008
DEPRECIATION COMMENCES WITH REFRENCE TO DATE ASSET IS PUT TO USE AND NOT THE DATE OF BILL.
IF THE MACHINERY WAS PUT TO USE IN LAST YEAR AND NO DEPRECIATION WAS CHARGED LAST YEAR .........PRIOR PERIOD DEPRECIATION WILL HAVE TO BE BOOKED
IF THE MACHINERY WAS PUT TO USE IN LAST YEAR AND NO DEPRECIATION WAS CHARGED LAST YEAR .........PRIOR PERIOD DEPRECIATION WILL HAVE TO BE BOOKED
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