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Net block of asset at the end of the life

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 August 2013 Is it compulsory to maintain 5% salvage value/ net block at the end of the life of the asset after charging depreciation as per the companies act,1956.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
09 August 2013 Yes. calculating the depreciation, need to keep the 5% salvage value

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