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

Rupesh Jain

Rupesh Jain (Expert)
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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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