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DEPRECIATION

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Querist : Anonymous (Querist)
19 December 2010 Sir
A NGO got some fixed assets (Computers) from an organisation (say A). The NGO take the market value of the assets as A paid cash and the NGO purchased the Assets. Now the question is whether it has to take depreciation on this Computers. Can the NGO take lesser % of Depreciation for calculation for Receipt and Payment A/C ?

Thanking You
Sampad Mohanty

19 December 2010 Deprectaion is calculated on book value as per useful life of aseets.

21 December 2010 If the payment is not made by the NGO itself then it can not claim depreciation on it




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