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Querist : Anonymous

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Querist : Anonymous (Querist)
16 July 2015 Sir,

When WDV of Asset is less than Scrap Value As per new companies Act 2013's than what to do.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
16 July 2015 If the asset has 'life', keep the WDV as the residual value and need not depreciate.

If the life of the asset is expired, either you may do as above or transfer the WDV to the 'reserves and surplus' account.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
16 July 2015 Reinstate the WDV to the scrap value. The gain will shown in the Profit & Loss as income.
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Querist : Anonymous

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Querist : Anonymous (Querist)
17 July 2015 thanks sir....................
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
27 July 2015 You are welcome. You should use the thanks button to convey your thanks.

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