06 July 2009
Company has purchase a Assets about 15 year ago at Rs. 80000/- now its value become less then 2000/- but still we have to calculate depriciation on this assets and becuae of this Fixed assets register is too big then normal size.
So i wana to ask, that is their any provision regarding Depriciation, that after a fix time we can write off WDV Value of asset as Depriciation or any other,
becuase otherwise its very hard to calculate deprication of sunch More then 5000 assets which are older in Balance Sheet then 10 years,
07 July 2009
You have to provide depreciation by calculating the same. You can use excell sheet to calaculate the same fastly. The number of items is very less in your case. There are companies which more than 5,00,000 items also. You cannot write off as per yor convenience.
CAclubindia
