Depreciation

u can depreciate till asset value becomes 1 re

r u sure

No There is no provision like this.

plz clarify me if there is any provision UNDER ANY ACT stating the same

min amount of the asset which can be  show in the balance sheet is 1 re

A ASSETS WHICH ARE SPECIALLY USES IN MINES, GAS & FUEL, CABONIC ITEMS, AGRICULTURE PURPOSES, DRILLING, CUBBING, SHAPING, EXPLORATION ETC ARE NOT TO BE DEPRECIATED BEYOND 95%, BCOZ THROUGH THIS ASSETS UR BUSINESS IS CARRING NA, IF U DONT INVOLVE ALL HIS ASSETS INTO UR BUSINESS U CANT DO ANYTHING & ABOVE ALL THE DEP IS INDIRECTLY PROVIDED ON ALL SUCH ASSETS AT THE TIME OF CAL CLEAR PROFIT. IN NORMAL TRADING BUS U CAN PROVIDE DEP UPTO THE VALUE IS NOT GNG TO ITS AMT TO RS 1.

I depreciation charged in books up to last year, but current year donot charges depreciation in books. if possable as per   AS & Companies .

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i go through notes to accounts as above mentation