29 June 2013
R/sir, I have a problem about depreciation as per company act 1956 as below- Original cost value - 9,70,000 accumulated Total Dep. - 8,90,000 Opening wdv in Books - 80,000 as on 1/04/2012 Depreciation as per SLM - 109707 (970000*11.31%) for the year 2012-2013. in this above case Depreciation Block is higher than gross block of Fixed asset. so please tell me what will be done in this condition. As per my view, i have write off opening WDV with Depreciation of Rs. 80000. and block is nil. am i right or not please advise & suggest.
CAclubindia
