+- Accountancy Forum (https://www.accountancy.com.pk/forum)
+-- Forum: The Profession (https://www.accountancy.com.pk/forum/forum-the-profession)
+--- Forum: Accounting and Audit (https://www.accountancy.com.pk/forum/forum-accounting-and-audit)
+--- Thread: Depreciation allowable in year of purchase (/thread-depreciation-allowable-in-year-of-purchase)
Depreciation allowable in year of purchase - baluideal - 01-09-2007
On what value of asset is 100% depreciation allowable in the year of purchase?
- Abdur.Rehman - 01-09-2007
Depreciation has nothing to do with value.. Plz clarify ur question...
- baluideal - 01-10-2007
As Per Companies Act,1956 under Schedule XIV asset value below Rs.5000 is 100% depreciable in the year of Purchase. Similar provision available as per US GAAP.?
- Abdur.Rehman - 01-18-2007
Well in Pakistan and International accounting standards there is no such thing...
The rate of depreciation is upon the descrition of management...