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METHOD OF DEPREICATION CHANGED

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 January 2011 Hi
Respected Memebers]

I want to know if suppose one fixed asset sold and thereafter method of depreciation is changed from WDV to SlM OR vice versa.

SO by this depreciatin shall be recalculated retrospective effect from the date of asset come to use.

So my question is Whether depreciation shall recalulated on sold asset?

is there any provision of such?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
07 January 2011 No it should be calculated on existing assets only and not on sold assets as it wont affect the P & L.

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