PLZ TELL ME WHETHER DEPRECIATION AS PER COMPANIES ACT IS CHARGED ON FULL COST OF THE ASSET OR 95%?
IF IT IS 95% PLZ TELL ME THAT WHERE IT SI WRITTEN?
Menu
DEPRECIATION AS PER COMPANIES ACT
Replies (7)
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
Recent Topics :
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
- GST RATE ON FILM PRODUCTION
- Section 54
- Why are foreign investors suddenly buying Indian s
- TDS ON IMMOVABLE PROPERTY - PURCHASE FROM NRI &
- Query to Tax Garden tax consultant
- Subject: Urgent Assistance Required – TRACES
Related Topics :
CAclubindia
