Depriciation
This query is : Resolved
16 August 2007
Mr. Bharat we charge depericiation on assets because as u know every thing get depreciated because of lapse of time or use and after a time that asset get so much depreciated that it cant use and that time that asset require replacement and we require money to replace that asset but it is not possible every time to purchase the asset at the time of its disposal because of finance limitations and other reasons. So it is better to set aside some part of profit every year and accumulate it to replace the disposable asset at the time of disposal of asset. Beside this in accounts we have matching concept so it is an expense to earn the income and that should be charged against the income earn by using the assets.
22 August 2007
You should read As 6 , 10,26 and sec.349 350 etc. of companies Act for poper view & guidence
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Liable to deduct tds and 44ADA
- TDS PROCEDURE ON SALE OF IMMOVABLE PROPERTY BY NRI
- Two seprate Invoice needed
- ECO SUPPLY REPORTIONG IN GSTR-1
- ASISSE return under the provisions of the Collection of Statistics Act, 2008 (7 of 2009)
- Gstr7 vs Gstr3b 2026
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
