02 June 2012
A non working company purchased fixed assets(DG Set) 4years before. It is not charging depriciation on it. It has only interest and rental income. Should it charge depriciation on fixed asset 'due to passage of time' as per AS6..???
03 June 2012
You are right. As per AS-6 and Circular of Ministry of Corporate Affairs every company should provide depreciation on all of its assets. Depreciation is for effux of time.
CAclubindia
