Depreciation on assets scrapped as on 31.03.2016
This query is : Resolved
16 August 2016
Company wants to discard its assets on 31.03.2016. Whether depreciation is allowed for whole year in this case or not?
16 August 2016
If the asset is discarded, where comes the question of depreciation?.... only the profit/loss on discarding the asset is to be accounted for
16 August 2016
Excel sheet which we use for Depreciation calculation as per New Companies Act , depreciation is calculated for whole year as depreciation is calculated on days basis under Companies Act. Hence this query was raised by client.
17 August 2016
Please dont be FORM driven, be SUBSTANCE driven.
Message likes :
1 times
17 August 2016
Thank you for assistance.
17 August 2016
You are most welcome.
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
- ADT-3 AND ADT-1
- FOREIGN GAIN AND LOSS
- Itr .….......
- TDS Under Section 194IA Where More than one Buyer and More than one Seller
- E-way bill issue with two invoice
- Interest on Capital-Partnership Firm
- Inheritances Share Tax Implications
- Insolvency and Bankruptcy code 2016
- LABOUR SUPPLY BILL - RCM APPLICABLITY
- Mvat Reurn filling for Restaurant & Bar
- IRN was not generated for October-2025 Invoice but generated e waybill, now it is self identified,
- 80G deduction eligibility
- GST on Tobacco - as per new notification
- Cant amend a 26QB
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
- TDS under section 195.
- Filing GST Returns after death of proprietor
- Registered Required in GST Act
- Switch over to Composition Scheme
Trending Online Classes
-
Online GST Course - Master the Fundamentals of GST with Practical Insights
Ruhi Joshirao19 January 2026
CAclubindia
