Whether depreciation will bw charged for full year or on day
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 December 2013
hello,
A Bolero vehicle (fixed asset) was sold out on 11.12.2013, Now i want to know that how i provide depreciation on it,
for Full Year or
on day basis or
on monthly basis.
FY year start on 1.4.2013. and depreciation is charged on SLM Method.
Purchase Price of Asset is 728087, Salvage value - 0, Rate of Dep. 9.5% as per compnies act.
Plz help me urgent
A Bolero vehicle (fixed asset) was sold out on 11.12.2013, Now i want to know that how i provide depreciation on it,
for Full Year or
on day basis or
on monthly basis.
FY year start on 1.4.2013. and depreciation is charged on SLM Method.
Purchase Price of Asset is 728087, Salvage value - 0, Rate of Dep. 9.5% as per compnies act.
Plz help me urgent
12 December 2013
as per income tax act - no depreciation.
as per company law - charge depreciation on day basis.
as per company law - charge depreciation on day basis.
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