Depreciation

This query is : Resolved

neha (Querist)
Follow

31 March 2012 can anyone tell us how to calculate depreciation as per company act if the figures are given in such a way i.e

Total cost of asset till 1.4.2009-7496413
Dep. upto -4541562
Sale of asset on Dt.6.2.2010 -90000

asset purchase on dt.3.9.2009 -1980189

i have doubt in what no. of days to be taken in its calculation

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

31 March 2012 The asset purchased on 3.9.2009 has been sold on 6.2.10?

You need to calculate the WDV as on 6.2.10.

Depreciation for the period 3.9.09 till 6.2.10 shall be reduced from the cost and balance amount shall be the WDV.

neha

neha (Querist)
Follow

31 March 2012 asset sold on 6.2.2010 is an old asset and 3.9.2009 a newly asset purchased....plz tell me if i calculate dep@25.89% on newly asset than how many no. of days will be taken

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

31 March 2012 Depreciation on new asset shall be charged for 210 days.

neha

neha (Querist)
Follow

31 March 2012 and to be devided by 360 or 365days?? thanks siddhartha, i'm considering all these bt, my calculation is differ frm m CA..........

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

31 March 2012 Amount will be divided by 365.

neha

neha (Querist)
Follow

31 March 2012 ok now i understand where i'm dong mistake. Thank you Sidhartha.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

31 March 2012 You are welcome. You should use the thanks button to convey your thanks.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

rana andcompany

MAYUR

Tanuj Kumar Sharma

Aravind S

UPENDRAN YADAV

Subscribe Now

Depreciation

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA