Depriciation

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 March 2013 Dear CCI members,
my company is calculating depreciation as per wdv & day wise depreciation.
i want to know whether the policies followed by companies act is correct or not

29 March 2013 WDV is one of prescribed method
so there is no problem
it is ok

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 March 2013 Dear Prashant ji
is it compulsory to calculate depreciation day wise or we can calculate for whole year in wdv/slm method.(companies act)

29 March 2013 day wise depreciation is ok

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 March 2013 if we purchased a vehicle for official purpose,we have to capitalized the first time insurance paid .

31 March 2013 Yes. first insurance paid at the time of purchase can be capitalised and further premium can be treated as expenses


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