Depriciation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 March 2013 Dear CCI members,
my company is calculating depreciation as per wdv & day wise depreciation.
i want to know whether the policies followed by companies act is correct or not

CA Prashant Gupta

CA Prashant Gupta (Expert)
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29 March 2013 WDV is one of prescribed method
so there is no problem
it is ok

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

29 March 2013 Dear Prashant ji
is it compulsory to calculate depreciation day wise or we can calculate for whole year in wdv/slm method.(companies act)

CA Prashant Gupta

CA Prashant Gupta (Expert)
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29 March 2013 day wise depreciation is ok

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

29 March 2013 if we purchased a vehicle for official purpose,we have to capitalized the first time insurance paid .

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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31 March 2013 Yes. first insurance paid at the time of purchase can be capitalised and further premium can be treated as expenses

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