Depreciation calculation.
This query is : Resolved
08 August 2013
I have a doubt regarding Depreciation calcuation under Straight line basis..
Asset cost as on 1.4.12 - rs 5000
Accumalated Dep as on 1.4.12 - rs 4500
Rate of dep 16% SLM. What will be the dep for the year 12-13 under co's act??
Thank you
Asset cost as on 1.4.12 - rs 5000
Accumalated Dep as on 1.4.12 - rs 4500
Rate of dep 16% SLM. What will be the dep for the year 12-13 under co's act??
Thank you
08 August 2013
you have to keep 5% salvage value for all asset while depreciating. so given asset has only 5% salvage value, no need to depreciate, even you want to do you can depreciate only Rs.500 and make asset as Nil value
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
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- Putting a heading on received mail
- Section 50-fixed asset-->building ceases to exist
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Foreign lottery ticket bought online from India: legality, tax and consequences
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Gift Received from nonblood relative
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
