Depreciation
This query is : Resolved
CA.Madhuraj.Rai
(Querist)
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
CA. Anoop Gadia
(Expert)
24 August 2011
yes, you can take this rate for amortisation as per AS in company law.
CA.Madhuraj.Rai
(Querist)
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
