Depreciation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 April 2013 I HAVE RECENTLY JOINED A COMPANY AND AM ASKED TO DRAFT THE BALANCE SHEET AS PER SCHEDULE VI.COMPANY IS A NEW COMPANY STARTED OPERATIONS THIS YEAR.ON THE ASSETS PURCHASED WHAT RATE OF DEPRECIATION SHALL I PROVIDE FROM WHERE WILL I GET THE DEPRECIATION RATE.

PLEASE REVERT BACK AS SOON AS POSSIBLE.ITS URGENT
THANKS IN ADVANCE.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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09 April 2013 Depreciation rates are available in schedule XIV of the companies act,1956 for which the following site, among others, can be seen.
http://www.aadisol.in/aca/images/bullentins/bt_23.pdf

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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29 May 2013 Depreciation is to be charged on the basis of number of days used. In case any asset not put to use, no depreciation is to be charged on other issues I agree with the expert

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