Query Ist Companies Act says or suggests to depreciate 95% of assets???
I mean can i depreciate 100%??? or is it mandatory to stop at 95 %.
2nd
Further Can a item like mouse be capitalized with say amount 200 and Depr. with rate 100%( assume not taken along with PC) or i have to show it as repair and maintainence??
same way a pen drive worth Rs 1500 should be capitalized???
16 February 2010
There is no such recomdation in companies act to depreciate 95% or not. In fact whose actual cost does not exceed five thousand rupees, shall be provided depreciation at the rate of hundred per cent is mentioned in the companies act.
CAclubindia
