Depreciation allowable in year of purchase

baluideal · 01-09-2007, 06:06 PM

On what value of asset is 100% depreciation allowable in the year of purchase?

Abdur.Rehman · 01-09-2007, 08:43 PM

Depreciation has nothing to do with value.. Plz clarify ur question...

baluideal · 01-10-2007, 03:09 PM

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, 06:22 AM

Well in Pakistan and International accounting standards there is no such thing...
The rate of depreciation is upon the descrition of management...