Depreciation under companies act
Karan Gaur
(Querist) 07 February 2013
This query is : Resolved
Opening Balance (as on 01.04.2011)of Plant & Machinery Rs. 100000 Addition as on 01.06.2011 Rs. 50000 Transfer/sale as on 31.10.2011 Rs. 25000 Rate of Depreciation 5.28% on SLM basis. What would be total depreciation for the financial year 2011-12 under companies act.
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R.K Nanda
(Expert) 07 February 2013
contact ur CA.
Karan Gaur
(Querist) 07 February 2013
we know this. If you dont know the answer then you should leave the query unattended.
R.K Nanda
(Expert) 07 February 2013
shut up and go to hell.
Guest
(Expert) 07 February 2013
Mr. Karan Gaur,
First of all, your query does not relate to business law, as the problem relates to accounting. Calculation process of depreciation is not provided in Company Act.
Secondly, classroom exercises are not solved here, more particularly for those persons, who tries to command replies by thinking as if the experts have to compulsorily obey his directions.
At first you directed the members to see more details at some other link instead of posting complete problem, now you have directed Shri R.K. Nanda, "if you don't know the answer, then you SHOULD leave the query unattended."
In fact you need to discipline yourself and your language first.
C. P. CHUGH
(Expert) 07 February 2013
Rightly said by Mr Dhingra, one should restrain from using abusive language on Public Platform.
Depreciation under the Companies Act is to be calculated on day to day basis for use of any asset at the prescribed rate. Follow the principal and calculate accordingly.
R.K Nanda
(Expert) 07 February 2013
agree with both experts.
Karan Gaur
(Querist) 08 February 2013
Itna sab kuch likhne ke bajay meri query ka javab dena jyada behtar tha.
My warm regards and thanks to Mr. C.P. Chug for answering my query. At least you have given me a hint to calculate depreciation. But Sir I havn't used any abusive language. I think that Mr. Nanda has lost his temper and abused me. I dont care at all.
Dhingra Sir this is for your ready reference...
While deducting the sums specified under Section 349 of Companies Act, 1956; clause (k) of Section 349 states that the Depreciation to be deducted shall be the depreciation on Assets computed as per the Rates of Depreciation as per Companies Act specified under Schedule XIV.
Karan Gaur
(Querist) 08 February 2013
I think that Mr. C.P. Chug is a true expert.
Karan Gaur
(Querist) 08 February 2013
agar koi query adhi adhuri ya unrelated lagti hai to uska javab dena konsa jaruri hai.
R.K Nanda
(Expert) 08 February 2013
do not advice all learned experts.
Guest
(Expert) 08 February 2013
Agar adhuri queri hi likhni thi, yaa aapko uska jawab maloom tha, jaisa ki aapne Companies Act ki sections ka reference diya, toh query likhna kaunsa jaroori tha? On suggestion"contact ur CA" of Shri R.K. Nanda, aapne admit bhi kiya thaa "we know this."
So what was the purpose of your query, except to waste time of others?
R.K Nanda
(Expert) 08 February 2013
fully agree with Dhingra Sir.
R.K Nanda
(Expert) 08 February 2013
expert section is no time pass for anyone.
all learned experts give their valuable
advice to queries with all devotion.
Karan Gaur
(Querist) 08 February 2013
Oh sir, at that point of time I dint know that section but after asking some learned persons like you I got the reference.
But I called Mr. C.P. Chug a true expert coz he replied correctly to my "Aadhi Adhuri" query.
R.K Nanda
(Expert) 08 February 2013
it is good that now u know this information.
Karan Gaur
(Querist) 08 February 2013
thank you sir. lagta hai ki ab aap gusse me nahi hain. ok bye sir.
R.K Nanda
(Expert) 08 February 2013
ur welcome.
C. P. CHUGH
(Expert) 08 February 2013
Karan Ji, This section is not meant for testing the knowledge of Xperts. Please refrain from making querries just to test us unless you really want a second opinion.
Dear Xperts, Please apply self constrain and do no pulpate the matter beyond a line.
Let this thread be closed as resolved.
Thanks to all.
