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Depreciation as per company act on assets less than 5000/-

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Querist : Anonymous

Querist : Anonymous (Querist)

23 May 2014 Where any assets less than 5000/- then 100% rate of depreciation is to be charges as per company act. Whether these 100% rate is also pro-rata basis or whole assets may be depreciated in same financial year. Kindly claricy

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

23 May 2014 It is not prorata basis, it can be charged off fully in same financial year

Rupesh Jain

Rupesh Jain (Expert)

24 May 2014 IT IS NOT PORRATA ITS 100% DEPRECIATE IN THE SAME YEAR.

Querist : Anonymous

Querist : Anonymous (Querist)

09 June 2014 I think schedule XIV of oompany act says to rate of depreciation on these items i.e. 100% and similiary any assets addition/discarded during the year should be charged pro-rata basis.

With this anology we should charged pro-rate depreciation also on assets having less than 5000 cost.

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