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Depreciation on discount

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(Querist)
22 August 2008 purchased a Fixed Asset on 01/08/2008 for Rs. 50000 and entry passed in books.Later got an advise for discount for Rs. 5000 on 31/08/2008.

Pls reply that for the period 01/08/2008 to 31/08/2008 on what value the depreciation will be chrged as per companies act i.e. on Rs. 50000 or Rs. 45000?
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CHEZHIYAN

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CHEZHIYAN (Expert)
22 August 2008 Rs.45000 ..

The Fixed Asset is To Be capitalized at net of Discounts only
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CA. GOPAL SONIKA

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CA. GOPAL SONIKA (Expert)
22 August 2008 On Rs.45000/-
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CA MOHIT VAATS

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CA MOHIT VAATS (Expert)
22 August 2008 on Net Amount after Discount i.e. Rs.45000/-
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