Depreciation
This query is : Resolved
Kunal Jhaveri
(Querist)
13 September 2019
During FY 2018-19 there was a fire in one of the factory of the assessee, majority of the assets of that factory were destroyed, but the WDV of the assessee is not becoming Zero, do assessee requires to adjust the WDV or it can still claim depreciation as per WDV concept, if WDV need adjust then please let me know how to calculate the exact WDV? And during F.Y 2019-20, it shall be getting insurance claim to.
Gokul Sharma
(Expert)
13 September 2019
read accounting standard 28 impairment of asset
Gokul Sharma
(Expert)
14 September 2019
impair those asset to the realizable value.
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