DEPRECIATION
This query is : Resolved
Querist : Anonymous
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
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
19 December 2010
Deprectaion is calculated on book value as per useful life of aseets.
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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