METHOD OF DEPREICATION CHANGED
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 January 2011
Hi
Respected Memebers]
I want to know if suppose one fixed asset sold and thereafter method of depreciation is changed from WDV to SlM OR vice versa.
SO by this depreciatin shall be recalculated retrospective effect from the date of asset come to use.
So my question is Whether depreciation shall recalulated on sold asset?
is there any provision of such?
Respected Memebers]
I want to know if suppose one fixed asset sold and thereafter method of depreciation is changed from WDV to SlM OR vice versa.
SO by this depreciatin shall be recalculated retrospective effect from the date of asset come to use.
So my question is Whether depreciation shall recalulated on sold asset?
is there any provision of such?
07 January 2011
No it should be calculated on existing assets only and not on sold assets as it wont affect the P & L.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Cash deposited to salary account from gold loan account
- Assessment Procedure Us 147
- Itc on computer
- Capital goods Cross charges
- How to file ITR for AY 2024-25
- PAN number mendatory for minor in bank for small savings
- Rent received from builder for Redevelopment of flat
- NRI GET FOR SALE OF RURAL AG. LAND
- 80 G Deduction in scrutiny
- Filing return under 44ADA
- Can huf give gift to karta or kartas wife and son
- FY 24-25 Invoice Booked in FY 25-26 & ITC Claimed in FY 25-26
- ESI Contribution after implementing COSS
- ITC REVERSAL
- Revised Income Tax Return AY 25-26
- TDS deduction liability ?
- Sale of goods from my GST proprietorship firm to my GST HUF proprietorship firm with karta me
- ITR revision intimation recd.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
CAclubindia
