Depreciation
This query is : Resolved
24 August 2011
our company has implemented ERP and which cost Nealy 30 lakh. i want to know how to change deprecation on it under company law .the life of asset expected 15 years. we are thinking that deprecation is charged on basis of life of assets (cost/15 year). is it OK under companies act?
Thanks in advance
Thanks in advance
24 August 2011
yes, you can take this rate for amortisation as per AS in company law.
25 August 2011
Thank you Anoop.
But as per Schedule IV of companies act specifies 16.21%. Whether the above treatment holds goods with respect to schedule IV?
Pls clarify
But as per Schedule IV of companies act specifies 16.21%. Whether the above treatment holds goods with respect to schedule IV?
Pls clarify
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