Depreciation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 May 2011 Hi

Please tell me whether depreciation is to be calculated( both days inclusive ) i.e date of purchase and closing date or exclusive of one day.

Also tell me that we have purchased a Syntax Water Tank .....how should i Depreciate the same .. under which head .. and what depreciation rate is to be affixed

Kindly help

jagan sai

jagan sai (Expert)
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26 May 2011 date of purchase is to be included

regarding syntax water tank..you can add it under the head furniture..

Querist : Anonymous

Querist : Anonymous (Querist)

26 May 2011 Thanks

For ex if an asset is purchased on 31.03.2010, then we have to calculate depreciation for one day only for financial year 2009-2010.???

and if an asset is purchased on 30.03.2010, then we have to calculate depreciation for two days ???

Kindly help