abhishreshthaa
Abhijeet S
DEPRECIATION
i) Fixed assets other than computers are depreciated at the rates prescribed under the IT rules, on reducing balance method including on the composite cost of certain properties where it is not possible to segregate the land cost. Computers are depreciated on Straight Line Method at the rate of 33.33% per annum.
Depreciation on additions to Fixed Assets during the financial year is provided at 100% of the rate of depreciation prescribed, if the asset is put to use for 180 days and above during the year and at 50% of the rate of depreciation prescribed, if the asset is put to use for less than 180 days during the year. No depreciation is provided in the year of sale / disposal on all fixed assets.
ii) Incremental depreciation on revalued amount in respect of premises is adjusted from Revaluation Reserve Amount.
i) Fixed assets other than computers are depreciated at the rates prescribed under the IT rules, on reducing balance method including on the composite cost of certain properties where it is not possible to segregate the land cost. Computers are depreciated on Straight Line Method at the rate of 33.33% per annum.
Depreciation on additions to Fixed Assets during the financial year is provided at 100% of the rate of depreciation prescribed, if the asset is put to use for 180 days and above during the year and at 50% of the rate of depreciation prescribed, if the asset is put to use for less than 180 days during the year. No depreciation is provided in the year of sale / disposal on all fixed assets.
ii) Incremental depreciation on revalued amount in respect of premises is adjusted from Revaluation Reserve Amount.