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Depreciaton under companies act

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Guest (Querist)
22 May 2015 According CO Act 1956, if the cost of asset is below Rs.5000/- then entire amount can be taken as Depreciation.Is there any any provision regarding this in Co Act,2013.
If not then how can be depreciation calculated ??
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
23 May 2015 There is no such provision in Companies Act 2013. But you can adopt a policy to completely depreciate an Asset costing Rs 5000 or less with a disclosure in notes to accounts.
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