23 July 2008
Fixed Asset Register is to be maintained as per Section 209 of the Companies Act. There is no Fixed Format prescribed in the act. However, the register must contain the details as per CARO,2003. The complete Format of Register in Excel Form is available on CAclubindia site in the file shared by Mr. Purna P which may be seen. Also, in case u are going to maintain the Fixed Assets Register for a big organisation then may think to acquire a software known as 'FAMS' which is the ideal one and serves the purpose of generating Asset IDs and preparing various reports for Income Tax Also. Moreover, it calculates depreciation within seconds as per Co.Act and I.tax and even gives the report for 3CD Form.
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