Dear All!!
Can anybody tell me if the items where 100% depreciation is allowable, like Rolls in Steel industry as per Company Law, whether the value of the items should be shown as Rs.0/- or Re.1/-?
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Can WDV be 0 in case of 100% depreciation items?
Replies (4)
RE. 1
WDV can't be Zero.
regards,
ratan
but when 100% dep. is provided, the value is 0
The asset should be shown at nominal value, say Re.1/-
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