Depreciation
sivaram (Sr. Accounts Executive) (104 Points)
18 August 2016sivaram (Sr. Accounts Executive) (104 Points)
18 August 2016
Bharath
(C.A,C.S)
(3983 Points)
Replied 18 August 2016
HI,
As already the useful life is expired as per CA,2013, you cannot charge depreciation for FY 15-16.Whatever is the opening balance of the asset as on April 1st,2015, you have to charge it off as an expense from your opening retained earnings.