Machinery transfer entry efect in fixed assets sehdule

This query is : Resolved

shravan kumar (Querist)
Follow

10 August 2013 Can anybody solve my query about Machinery transfer.
Actually our co. has 15 branches in all over India. 5 machinery transfer from Gurgaon branch to Delhi branch.
what is the treatment in assets schedule.
and how to treat it in gross block and net block of assets schedule.
can i show it in Delhi branch as a addition or simply transfer all gross block and depreciation into the Delhi branch.
please send me the ans with an example.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

11 August 2013 If you transfer Gross Block and Accumulated Depreciation to Delhi Branch the net effect in Delhi Branch's column will be the WDV of the Machinery. This is quite logical and accordingly you may do.
.
In case such transfer is taking place during the year then Pro-rata depreciation may be charges to both the branches ( in proportion to the No. of days in which the asset is being used by the respective branch)
.

shravan kumar

shravan kumar (Querist)
Follow

12 August 2013 Thanks Paras ji

Tell me on thing more.
for the purpose of machinery transfer Gurgaon to Delhi, 'F' form will applicable or not.??

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now