Depriciation ( revision of life of an asset)
This query is : Resolved
16 May 2008
whether company can revise the life of same category assets, say computers propsectively, without revising the life of old computers ?
17 May 2008
I pressume that your question is with reference to companies Act (Act). Yes you can do so as long as you ensure the minimum depreciation prescribed under the schedule to the Act. It goes without saying (as you treat the same category of assets differently), you must have proper justification for doing so.
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