Depreciaton under companies act

This query is : Resolved

Guest

Guest (Querist)

22 May 2015 According CO Act 1956, if the cost of asset is below Rs.5000/- then entire amount can be taken as Depreciation.Is there any any provision regarding this in Co Act,2013.
If not then how can be depreciation calculated ??

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

23 May 2015 There is no such provision in Companies Act 2013. But you can adopt a policy to completely depreciate an Asset costing Rs 5000 or less with a disclosure in notes to accounts.

Message likes : 1 times