Depreciation when assets wdv below
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 May 2017
Dear Experts,
an asset WDV is Re. 71
pls clarify :- should i charge depreciation by Re. 70 and left Re. 1 till tbe asset is exist.
Dep. A/C Dr....70
To Asset........70
however if we do charge excess dep. then specified percentage. the excess dep. will be disallowed during the income tax assessment.
so pls let me know should i dep. by 70 or should i charge dep. 15% per year till the asset WDV left Re. 1
what to do in this case.....
Thanks
ASAP
an asset WDV is Re. 71
pls clarify :- should i charge depreciation by Re. 70 and left Re. 1 till tbe asset is exist.
Dep. A/C Dr....70
To Asset........70
however if we do charge excess dep. then specified percentage. the excess dep. will be disallowed during the income tax assessment.
so pls let me know should i dep. by 70 or should i charge dep. 15% per year till the asset WDV left Re. 1
what to do in this case.....
Thanks
ASAP
Expert : Anonymous
Expert :
Anonymous
(Expert)
26 May 2017
Charge 15% until balance become Rs.1
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