DEPRECIATION AS PER COMPANIES ACT

Ya it is charged on full cost of the asset not 95%.

No doubt...On the full cost of asset.

even my knowledge says it has to be on full cost (what i have been doing these tears )

I m not mocking u but could u plz tell me the source for ur query????

As per companies act , depreciation will be provided on full cost of asset. maximum depreciaton u could provide on fixed assets in 95%(cumulative)of cost. WDV of asset cannot go below 95% unless discarded.

Agrred with Varun

ooo yes mr. varun thnx for reminding me

I totally forgot tht Karuna was getting confused for this reason

"As per companies act , depreciation will be provided on full cost of asset. maximum depreciaton u could provide on fixed assets in 95%(cumulative)of cost. WDV of asset cannot go below 95% unless discarded."

thanx

but  plz tell me the source