Can you please have an example of calculating depreciation of an asset in two countries ( say India and US) if they use different fiscal year period?

Fiscal year periods are simply grouping of your fiscal years.
Lets say company 1 uses a calendar year as their fiscal year. Therefore the fiscal year name would look like this:
Year 1 01-JAN-09 31-DEC-09
Year 2 01-JAN-10 31-DEC-10
Year 3 01-JAN-11 31-DEC-11

Lets say company 2's fiscal year starts at MAY. Therefore the fiscal year name would look like this:
Year 1 01-MAY-09 30-APR-10
Year 2 01-MAY-10 30-APR-11
Year 3 01-MAY-11 30-APR-12

The depreciation for each period would remain the same for the two companies for a given asset. If the two companies use different number of periods in a year then the depreciation amount would differ as well for the two companies.