Dear Sir
I wish to know whether we have to calculate depreciation for the sale of assets exclusive of the day of sale from the beginning of financial year. For instance, on 01-04-2012, the wdv value of plant is Rs.100 and the sale of asset is carried on 30-04-2012. We have to calculate the depreciation for the period from 01-04-2012 to 29-04-2012 i.e., for 29 days only. Is it correct?
Please clarify me.
WIth best regards
G.Vijaya Anand
CAclubindia
