Depriciation as per companies act 2013
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 July 2015
Sir/Ma'am,
As there is change of depreciation rates and useful life of fixed assets, Is the same will have as retrospective effect or prospective effect?
coz if the same has retrospective effect
then we'll have to recalculate depre. and make the possible adjustments in our book.
Please ans this query as soon as possible.
its really urgent
As there is change of depreciation rates and useful life of fixed assets, Is the same will have as retrospective effect or prospective effect?
coz if the same has retrospective effect
then we'll have to recalculate depre. and make the possible adjustments in our book.
Please ans this query as soon as possible.
its really urgent
CA R SEETHARAMAN
(Expert)
11 July 2015
It is prospective only except for assets there is no useful life as on 01-04-2015 the depreciation has to be adjusted against reserves.
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