Formats for condemnation

Stock Verification Proforma Life of articles Fixed by KVS DepreciationRates All Department calculation sheet calculation sheet (if value of article is more than 2000Rs.) Calculation sheet (if value of article is less than 2000 Rs.) Depreciation  has been provided on the  Fixed Assets  in conformity with the principles laid down in Accounting Standards -6 issued by the Institute of Chartered Accountants of India. Written Down Value Method of  depreciation has been applied uniformily on all Fixed Assets irrespective of their value but having useable life of more than one year. The rate applied  for Written Down Value Method for various groups of assets as approved by Board of Governers,KVS  are as  mentioned below. Items Rate% Building 10 Furniture, Fixtures 10 Library Books 10 Office Equipments 15 Vehicles 15 Computer/Peripherals/Computer Software 20 Hostel Equipments 10 Games & Estates 10 Other Fixed Assets 10 The depreciation  provided in respect of each item of depreciable assets to the extent of 95% of the original cost/book value of the depreciable assets(if value is above 2000 Rs.,other wise 100% for this year i.e. 2021-2) keeping residual value to an extent of 5% of the assets.Where during any financial year, any addition has been made to any assets, the depreciation on such assets is calculated for full financial year irrespective of the date of such addition.Where any asset has been discarded/demolished/destroyed i.e. written off during the year, the original cost of the assets and its accumlated depreciation is written off at the end of the financial year irrespective of the date on which such assets is discarded/demolished/destroyed or written off.The depreciation has been charged on the cost value of the assets.  Assets received as gift will also be subject to depreciation after their depiction on face/depreciated value in the Balance Sheet.