Depreciation (ScheduleXIV)

This query is : Resolved 

17 August 2009 Can anyone please tell me if the limit of Rs. 5000, mentioned in ScheduleXIV, for the assets to be provided the 100 percent depreciation is increased to Rs. 10000/-?? If yes, then can u mail me a notification or something....

Profile Image

Guest

Profile Image

Guest (Expert)
17 August 2009 Dear Chaitanya

There is no amendment in Schedule XIV, Note 13 of the Companies Act.

Hence, the following remains the same:

Provided that where the aggregate actual cost of individual items of plant and machinery costing Rs. 5,000 or less constitutes more than 10 per cent of the total actual cost of plant and machinery, rates of depreciation applicable to such items shall be the rates as specified in Item II of the Schedule.]

Trust, this helps you.

Best Regards

CA Himanshu Garg
ca.hims@gmail.com



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Unanswered Queries