Depreciation as per companies act

as per ma opinion,

there is no block of asset concept in companies act

compute depriciation on asset till d date it is sold

AS PER COMPANIES ACT THERE IS NOT CONCEPT OF BLOCK OF ASSETS , WHEN ANY ASSET IS SOLD THEN DEPRECIATION WILL BE CHARGED TILL THE DATE OF SELLING,

IFR ANY ASSET IS SOLD THEN PROFIT / LOSS ALWAYS COME.
 

Agreed with above

There is no such Block Cocept in companies Act. We need to take the Depreciation on individual assets. In case of sale we will ahve to make adjustment the period of holding

depreciation is allowed as number of days assets have been in used.

calculate as per ths rule

Originally posted by : CA Aditya Modi
	There is no such Block Cocept in companies Act. We need to take the Depreciation on individual assets. In case of sale we will ahve to make adjustment the period of holding

AGREED.

 i agree with all above...

Calculate depreciation for the days till asset is not sold. Sale consideration less the WDV will be profit / loss on the asset so sold.

This profit / loss gets reduced from the computation when profit as per income tax act gets computed.

so the block concept is not there in companies act .