Residual value taken 0%, then justification??
This query is : Resolved
CA Puneet Garg
(Querist)
18 February 2015
Hi everyone,
Can you please suggest that if i am taking residual value of asset at 0%, then whether i should give justification for that. because as per Company Act 2013, Justification required if res. value is different from Act, but in the Act it is mention that % shall not be more than 5%, so 0% is also not more than 5%. so as per my view, no justification required
Plz Explain???
Regards
CA Puneet Garg
ca.puneet2011@gmail.com
Can you please suggest that if i am taking residual value of asset at 0%, then whether i should give justification for that. because as per Company Act 2013, Justification required if res. value is different from Act, but in the Act it is mention that % shall not be more than 5%, so 0% is also not more than 5%. so as per my view, no justification required
Plz Explain???
Regards
CA Puneet Garg
ca.puneet2011@gmail.com
CA R SEETHARAMAN
(Expert)
18 February 2015
You are right no justification required for 0% residual value.
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