hey gyz... help me out on this... suppose we buy a new machinery in the mid of the accounting year which have a cost of less than rs.5000 so we will charge 100% depriciation on it(in other words we will not capatalise it and will take it into p&l)... will this concept also apply on other fixed assets...?? i am preparing for c.a inter and have not read this concept uptil now... i've learned this concept during the audit today so i'm confused about it... help me out.. thanx...!!
Menu
depriciation as per company act 1956
Replies (2)
/forum/depreciation-as-per-company-law-76826.asp
check the above forum it will clear u r concept
Some companies are following 100% depreciation procedure according to their Asset policy. But, taking to directly into P&L account is Wrong.
Company has to account as asset and 100% depreciation can charged in P&L. If follow this procedure, their asset accounting and fixed asset register is very clear and informative manner.
Recent Topics :
- Clarification on September 2026 PF Calculation for
- DRC-03 interest paid under CGST/SGST instead of IG
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
- GST SALES RETURN MISSING 2025-26 FY
- Enquiry on FAST-DS system generated email
- Capital gain on sale of agriculture land
- Demand from TRACES
- FY 2025-26 ITC CLAIM DUE DATE
- 96084000 and 48202000 HSN code ka Tax Rate kya hai
Related Topics :
CAclubindia
