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Depreciation

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(Querist)
22 May 2008 While caculating depreciation as per Companies act for the year i found some bills of erlier year were taken into account. how to calculate the depreciation for those bills, from the date of bill or what?
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
22 May 2008 Alreadt answered
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Late CA Sampat Jain

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Late CA Sampat Jain (Expert)
23 May 2008 DEPRECIATION COMMENCES WITH REFRENCE TO DATE ASSET IS PUT TO USE AND NOT THE DATE OF BILL.

IF THE MACHINERY WAS PUT TO USE IN LAST YEAR AND NO DEPRECIATION WAS CHARGED LAST YEAR .........PRIOR PERIOD DEPRECIATION WILL HAVE TO BE BOOKED
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