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Former Member
Sep 08, 2009 at 04:09 AM

Asset reclasification


Dear Experts ,

can you please help on this issue

1] i have building asset for value is 10000 and deprecation is 10 years and i run deprecation for this asset last 14 months .now asset value is [approx] Rs 8000 .

2]i need to transfer this asset from building to furniture asset [ here the asset class is changed from Building to furniture ]and the deprecation need to to changed from 10 years to 5 years for this transfer asset [ building to furniture]

can you please suggest me can i transfer from TC : ABUMN , then that deprecation balance how i can do because last 14 months deprecation is calculated for 10 years life span base but actualy it is wrongly entered ,it need to be calculated for 5 years life

How i can adjust this deprecation values