IF a company buy a computer on today, but not transferred the computer to concerned person who will be the end user of such computer and store it in his store room for 3 months, after 3 months he transfer the computer to concerned person, so, depreciation should be calculated from which date whether from end of 3 months or from buying date, FOR ACCOUNTING PURPOSE. please give me justification as per AS 6.
3 Replies
CA. Asheesh Seshadri
(CA)
(34 Points)
Replied 28 December 2010
Hi Ajay,
Pls refer the attached file for reply.
Forgot to mention in the attachment, that as per situation 2 ie Effluxion of time,Depreciation is charged
Attached File : 49 depreciation.doc downloaded: 165 times
JITENDRA KUMAR DHINGRA
(Executive)
(93 Points)
Replied 29 December 2010
WIth the reference of AS-6 Dep. should be charged when the asset from the date of purchase but if we move towards the income tax act, we should also considered when the asset has put to use.
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