banner_ad

Depreciation as per companies act

This query is : Resolved 
Profile Image

Profile Image

(Querist)
06 July 2012 Dear Sir

Some of our assets are not temporarily in use due to spare capacity pursuant to decline in market demand. However, this phenomenon is temporary and accordingly use of these assets may vary from month to month - one month they are not used and in another month they are used. Is it possible not to charge depreciation on these assets in the months / period during which these are not used for production.
Profile Image

Sanjay Chauhan (IFRS)

Profile Image

Sanjay Chauhan (IFRS) (Expert)
07 July 2012 Depreciation is a cost for wear and tear of assets. Even if the asset is idle for intermetent period, depreciation continues. There is only once exception when the asset is retired or held for sale, when depreciation is stopped and the asset is stated at WDV or NRV, whihcever is lower.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details