Depreciation
This query is : Resolved
16 February 2010
Hi All,
Query Ist
Companies Act says or suggests to depreciate 95% of assets???
I mean can i depreciate 100%??? or is it mandatory to stop at 95 %.
2nd
Further Can a item like mouse be capitalized with say amount 200 and Depr. with rate 100%( assume not taken along with PC) or i have to show it as repair and maintainence??
same way a pen drive worth Rs 1500 should be capitalized???
Query Ist
Companies Act says or suggests to depreciate 95% of assets???
I mean can i depreciate 100%??? or is it mandatory to stop at 95 %.
2nd
Further Can a item like mouse be capitalized with say amount 200 and Depr. with rate 100%( assume not taken along with PC) or i have to show it as repair and maintainence??
same way a pen drive worth Rs 1500 should be capitalized???
16 February 2010
There is no such recomdation in companies act to depreciate 95% or not. In fact whose actual cost does not exceed five thousand rupees, shall be provided depreciation at the rate of hundred per cent is mentioned in the companies act.
16 February 2010
Agreed no such mandatory provision for depreciating 95%, you can consider salvage value and balance can be depreciated accordingly
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Defective Return - Tds on advance
- Fixed Deposit Claim Relinquishment by the Nominee
- TCS ON SOFTWARE SALES
- Not a CA , can we prepare balance sheet
- Income Type for interest from government bonds
- What is meaning of cumulative method of interest
- Interest of FDs is taxable on an accrual basis also
- What is meaning of mismatch of group in accounting
- Gstr 9 2023-24
- GSTR-9 HSN Summary and Credit Note without item
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- GST RCM not shown in GSTR-3B
- Bill from Dispatched from issue.
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
