Dear All!!
Can anybody tell me if the items where 100% depreciation is allowable, like Rolls in Steel industry as per Company Law, whether the value of the items should be shown as Rs.0/- or Re.1/-?
Ajay Pendse (Service) (86 Points)
19 April 2010Dear All!!
Can anybody tell me if the items where 100% depreciation is allowable, like Rolls in Steel industry as per Company Law, whether the value of the items should be shown as Rs.0/- or Re.1/-?
Ratan Deep Saxena
(Asstt Manager (Accounts & Finance))
(2998 Points)
Replied 19 April 2010
WDV can't be Zero.
regards,
ratan
CA Mukul Mittal
(CA in practice)
(384 Points)
Replied 06 June 2010
but when 100% dep. is provided, the value is 0
Priyanka
(Article Assistant)
(31 Points)
Replied 07 June 2010
The asset should be shown at nominal value, say Re.1/-
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