REGARDING CHANGE IN METHOD OF DEPRECIATION
This query is : Resolved
29 August 2023
IF ANY COMPANY FOLLOWS WRITTEN DOWN VALUE METHOD OF DEPRECIATION FROM THE INCORPORATION OF COMPANY, WHETHER SUCH COMPANY CAN CHANGE THE METHOD OF DEPRECIATION FROM NOW ONWARDS?
29 August 2023
Yes, According to IAS 8 change in accounting estimate is treated prospectively i.e. if a depreciation method is changed then the carrying amount of the asset at the date of change will be depreciated on the basis of new method.
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
- USE THE BANK ACCOUNT OF WIFE
- If ITC not claimed is there any issue
- Deemed rent on house property
- Benefit of employee
- Place of supply or billing addres which applicable for tax
- CAPITAL GAIN IN NEW REGIM
- How and when to deposit tds on house rent
- TDS on HSN code 998313
- Rental Agreement for Joint property holders
- TDS on payment to NRE account
- TDS on Sale of Properties
- GST rate on monthly hiring of vehicle for internal transport and outside factory transport
- How to generate e-way bill for goods already delivered??
- How to Download notice of Bonus/split/Merger or demerger or Right issue
- Ca final reregistration after a break
- RCM PAID BUT NOT DISCLOSED IN GSTR 3B - RELATED JEDGEMENTS
- The recent CBIC clarification via Circular No. 231/25/2024-GST dated 10.09.2024 itc Allowed demo car
- CSC centre individual bank transaction limit
- Tax implications on withdrawal of EPF and NPS
- Misreporting of Input Credit of RCM as Normal ITC Year 20-21
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert04 February 2025
CAclubindia
