Question ID : 2456

DEPRICIATION

MY CLIENT IS A CO-OPRATIVE BANK REGISTERED UNDER C0-OP SOCITIES REGISTRATION ACT.

THE BANK IS ABLISED 1959 AND OWN CONSTUCT THEIR BUILDG OF FIRST BRANCH 1976-77. PRESENTLY BANK IS HAVG 7 BRANCHES WITH ALL THEIR OWN BUILDG.

BANK IS REGURLY CHARGG DEPRICIATION ON ND & BUILDG @10% P.A. AS THE ND & BUILDG ARE SHOWN COMBE. NOW BANK WANTS TO SEGREGATE ND FROM BUILDG AND CHARGE DEPRICIATION ON ONLY BUILDG. AND THEY ALSO WANT TO TREAT ADDITIONAL DEPRICIATION(ALREADY CHARGED ON ND) REVERTED BACK AND CREDIT TO PROFIT & ACCOUNT. BANK ALSO WANTS THAT IF THIS CAN NOT BE DONE THEN DEPRICIATION ON BUILDG BE SETOFF AGAST THE DEPRICIATION ALREADY CHARGED ON ND.

CAN BANK DO THIS? '

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