a company purchased a machine for 12L, added 3L as other cost and booked 15L as gross block. salvage value is 5%.
1. on what value will depreciable amount be calculated, i.e. 12L or 15L.
2. salvage value is calculated on which cost i.e. 12L or 15L
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Depreciation as per cos act
Replies (5)
I have assumed that other cost is Installation cost so 1 ) your depreciable value is 15Lack
2) salvage value is calculated Rs.15Lck
its my openion sir
2) salvage value is calculated Rs.15Lck
its my openion sir
On 15 lakhs.
15 lakhs
15 lakhs
Other cost you added is part of Asset value.
Agree with Prasad
On 15 Lakhs only
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