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Asset value less then 5000

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 May 2016 Dear sir,
Our company has purchased the asset
Value 4689/- plz let me know as per sch.
ll what would be treatment of this said asset & how
The dep. Will be charge,

Regard
Rohit jain
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
20 May 2016 Charge the depreciation based on use full life retaining 5% residual value.
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Querist : Anonymous

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Querist : Anonymous (Querist)
20 May 2016 Sir should i charge dep. 5000-250/10,
like this,
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Rupesh Jain

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Rupesh Jain (Expert)
20 May 2016 yes you have to follow the new company act dept. method on the basis of the usefull life of assets.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
20 May 2016 Yes if it has 10 years life.

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