What is a Fixed Asset Register (FAR)?

A Fixed Asset Register is a detailed record of every fixed asset a company owns — its cost, purchase date, useful life, accumulated depreciation and net book value. It is required under Section 128 of the Companies Act 2013 and is checked in a CARO audit.

How do I make a Fixed Asset Register from Tally?

Export each fixed-asset ledger from Tally to Excel (Ledger Account / Group Summary), then upload the file to a FAR tool that reads the ledger columns, picks up additions and deletions, applies useful-life depreciation and produces a ready register with formulas. KyaTax offers a free FAR generator that does this.

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Fixed Asset Register (FAR): Format & How to Build One from Tally

Q: What depreciation method does a FAR use?

For the books, Schedule II of the Companies Act uses useful-life based depreciation (SLM or WDV), pro-rated by the number of days the asset was in use during the year. The FAR shows opening gross block, additions, deletions, closing block, depreciation for the year and net block.

Updated 24 June 2026 · 7 min read · By KyaTax

A Fixed Asset Register (FAR) is the schedule that lists every fixed asset your company owns — with its cost, purchase date, useful life, depreciation and net book value. It is required under Section 128 of the Companies Act, 2013, examined in a CARO audit, and is the basis of the depreciation charge in your financial statements. This guide covers the exact format, the depreciation method, how additions and deletions are handled, and how to generate a FAR straight from your Tally data in minutes.

🗂️ Free Fixed Asset Register generator

Upload your Tally ledger export → get a ready FAR with additions, deletions and useful-life depreciation — downloadable Excel with live formulas.

Open the FAR tool →

What a Fixed Asset Register must contain

A complete FAR (asset-wise, one row per asset) typically has these columns:

Column	What it holds
Asset / Category / Sub-category	What the asset is (Computer, Furniture, Plant & Machinery…)
Vendor & Invoice no / date	Who it was bought from and the bill reference
Date ready to use	When depreciation starts
Cost (ex-GST)	Capitalised value — GST input credit is not capitalised
Useful life (years)	Per Schedule II or company policy
Opening gross block / Additions / Deletions / Closing	Movement during the year
Opening & closing accumulated depreciation	Depreciation charged till date
Depreciation for the year	This year's charge
Net block	Cost − accumulated depreciation
Location / Assigned to / Asset tag	For physical verification

The depreciation method (Schedule II)

For the books, depreciation is useful-life based and pro-rated by the number of days the asset was in use during the year:

Useful life in days = useful life (years) × 365
Days in use = reporting date − ready-to-use date + 1
Depreciation = Cost × (days in use ÷ useful-life days)
Net block = Cost − accumulated depreciation

This is the Straight-Line Method on a daily basis. (WDV is also allowed — apply consistently.) Income-Tax depreciation is different — it uses fixed block rates with a 180-day rule — see our Companies Act vs Income-Tax depreciation guide.

Additions and deletions

During the year you'll have additions (new assets bought) and sometimes deletions / disposals (assets sold or scrapped). A correct FAR shows both: additions are capitalised at ex-GST cost and depreciated from their ready-to-use date; deletions remove the asset's cost and reverse its accumulated depreciation, with any profit/loss on sale recognised separately.

⚠️ A common mistake is capitalising the GST-inclusive amount. The asset cost in the FAR should be the value debited to the asset ledger (ex-GST); input GST is claimed as ITC, not capitalised.

How to make a FAR from Tally (the fast way)

In Tally, open each fixed-asset ledger → Display → Account Books → Ledger → export to Excel (one sheet per asset works too).
Open the free KyaTax FAR generator and upload that Excel.
It reads the ledger columns, picks up additions (purchases) and deletions (sale/disposal journals), takes the ex-GST cost automatically, and applies useful-life depreciation.
Set your reporting date and adjust the useful life per category (you can add your own categories — e.g. Vehicle, Building).
For a full roll-forward, also upload last year's FAR as the opening block — depreciation continues from the opening accumulated value.
Download the Excel with live formulas — edit any cost or life and the depreciation recomputes.

You can also add an asset manually and attach the bill by photo, scan or PDF, or pull purchases straight from KyaTax Books.

Build your Fixed Asset Register now

Tally → FAR with additions, deletions, depreciation and a formula-driven Excel — free.

Generate FAR →

FAQ

Is a Fixed Asset Register mandatory?

Yes — companies must maintain proper records of fixed assets under Section 128 of the Companies Act, 2013, including quantitative details and situation of assets; CARO reporting also relies on it.

What useful life should I use for computers?

Schedule II indicates 3 years for end-user computers/laptops and 6 years for servers/networks; many companies adopt their own justified policy. The KyaTax tool lets you set the life per category.

Does the tool keep my data private?

Yes — the FAR generator runs entirely in your browser. Your Tally file is read on your device and the Excel is generated locally; nothing is uploaded to a server.