Depreciation - Residual Value
Pankaj Arora (Learner) (3134 Points)
01 July 2018ABC LTD COMPANY DID NOT DEDUCT RESIDUAL VALUE FROM COST OF ASSETS SINCE 2014, NOW PLEASE SUGGEST WHAT TO DO
Pankaj Arora (Learner) (3134 Points)
01 July 2018
Vaibhav Siroliya
(Solicitor & Tax Consultant)
(308 Points)
Replied 01 July 2018
srikumar
(audit staff)
(1203 Points)
Replied 01 July 2018
Geetha Gupta
(Accountant)
(325 Points)
Replied 02 April 2020
Dear all,
Same problem in the company where i work. Residual value has not been deducted from the cost for the past three financial years.
What is the remedy?
Regards,
Geetha
Pankaj Arora
(Learner)
(3134 Points)
Replied 02 April 2020
Geetha Gupta
(Accountant)
(325 Points)
Replied 02 April 2020
Hi Pankaj,
You mean the excess depreciation be shown in P&L account of the current year as exceptional income ?
Regards,
Geetha
Pankaj Arora
(Learner)
(3134 Points)
Replied 02 April 2020