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DEPRECIATION

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 December 2010 Sir
A NGO got some fixed assets (Computers) from an organisation (say A). The NGO take the market value of the assets as A paid cash and the NGO purchased the Assets. Now the question is whether it has to take depreciation on this Computers. Can the NGO take lesser % of Depreciation for calculation for Receipt and Payment A/C ?

Thanking You
Sampad Mohanty
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
19 December 2010 Deprectaion is calculated on book value as per useful life of aseets.
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AMAN Gupta

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AMAN Gupta (Expert)
21 December 2010 If the payment is not made by the NGO itself then it can not claim depreciation on it
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