Can we claim the deprication on monthly basis

Dear Sir,

 

As per the comapnies act 1956, can we claim the deprication on monthly basis insted of days.

Saurabh Gupta

Replies (1)

Dear Sir,

As per my opinion, There is no such clause existing, which says the depreciation shall not be charged on a monthly basis.. as far as u r compiying with the minimum required rates as prescribed in the Act there is no violation made.. 

However, it shall be ensured that the rate and the company policy which are to be taken by the company are in line with the basic comditions, such as, The prudence, Substance over form and Materiality (These r not the only things which are to be taken care of, these r the minimum things which are to be taken care)

The same should be in total match with the Annual rates also.. though charged on a monthly basis.. 

Note: This opinion is beeing given in accordance with the respective accounting standards like AS1 and 6 also.. 

Regards,

Srikanth.M.S

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 26 August 2026
Article Assistant

ANIVESH CONSULTANTS LLP

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
ARTICLESHIP 15 September 2026
Freelance Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 26 August 2026
CA Article Assistant/CA Drop Out/Accounts Executive

PARV & Co.

New Delhi

CA Inter

View Details
Company
28 August 2026
Audit Manager

K A R M & CO

Mumbai

CMA

View Details
Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details
Company
09 September 2026
Chartered Accountant

Aviv Global Private Limited

Ahmedabad

CA

View Details
Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details