22 August 2008
purchased a Fixed Asset on 01/08/2008 for Rs. 50000 and entry passed in books.Later got an advise for discount for Rs. 5000 on 31/08/2008.
Pls reply that for the period 01/08/2008 to 31/08/2008 on what value the depreciation will be chrged as per companies act i.e. on Rs. 50000 or Rs. 45000?
CAclubindia
