hi frnds,
I have a query that , if in calculation of depriciation as per companies act , following SLM , .
what to do in this year in following situation.:
opening as on 01/04/2009 -Rs.36854/-
Rate- 9.5%
Depriciation Fund Balance as on 01/04/09- 36761.39
what amt of depriciation is to be provided in this year???????
thnks in advance.
Mr. Bhavik
As per the general practice, while calculating the depreciation under Companies act u hav to calculate the value to assets indivudually and wen the amount of cumulated depreciation of such asset reaches 95% of the value of such fixed assets u shud not provide depreciation in case of such assets.
further there is no nexus between the WDV as on date and the cumulative depreciation so not compare it.
hope u are satisfied by my reply
thnks frnd,
inspite of bad represantaion of the question you gave full satisfactory answer..,.
CAclubindia
