Depreciation

This query is : Resolved 

25 August 2009 Can the assessee claim depreciation on the asset used for 11 days in the last year Under the Companies Act, if so at what percent.

25 August 2009 As per Companies Act,1956 depreciation has to be charged on pro rata basis. In other words 11 days depreciation has to be provided in the accounts as per the said act.

25 August 2009 As per Companies Act Depreciation require to be provided on pro data basis.You can provide depreciation for 11 days in the books of account.Rate of depreciation depends upon the asset class of asset.


26 August 2009 Thanks for the reply



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

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries