Depriciation as per sec 205 nd sec 350

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 May 2013 What do you mean by Single Shift depriciation, double shift depriciation, triple shift depriciation ? Also let me know while maintaining Fixed Assets Register of the company which method is used SLM or WDV....?

CA. Sunil Kumar

CA. Sunil Kumar (Expert)
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12 May 2013 8 working hour refer as a shift.

if the factory run 24 hours a day than its running on triple shift basis.

sch xiv provide different rate of deprecation according to shift.

company can follow any of method wdv/slm provided the same should be consistently followed.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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23 June 2013 Before any depreciation is charged the policy for charging depreciation is finalized by the Board of Directors in any meeting. Once it has been finalized the same has to be followed every year any change requires approval from shareholder.

Sift means 8 hours working. The expert has given correct reply for shift and I agree with him as well as charging of method of depreciation.