Dear sir,
How to recognise the amount of deletion while calculate the depreciation as per IT Act and Co. Act.
Case:
Purchase value of Assets - Rs 20705
Date of Purchase - 14-05-2003
Resal value of asset -Rs 2000 on 31.12.07
Rate of Depn
a. IT Act- 15 %
b. Companies Act-13.91%
Q: What isthe amount , I have to shown in Depreciation schedule as Deleted during the year
CAclubindia
