Depreciation on FA as per companies Act is based on No of days or full year...i.e. FA bought on 20 Nov 2018 than depreciation is based on no. of days..or full year...
Where, during any financial year, any addition has been made to any asset, or where any asset has been sold, discarded, demolished or destroyed, the depreciation on such assets shall be calculated on a pro rata basis from the date of such addition or, as the case may be, up to the date on which such asset has been sold, discarded, demolished or destroyed.
CAclubindia
