Depreciation as per company act on assets less than 5000/-
This query is : Resolved
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
23 May 2014
It is not prorata basis, it can be charged off fully in same financial year
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.
With this anology we should charged pro-rate depreciation also on assets having less than 5000 cost.
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