Depreciation as per company act 2013

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vinee bansal (Querist)
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11 June 2015 as per new act dep is charged on carrying amount of assets on 31/3/2014.what will happen if new assets is purchased during FY 14-15 OR addition made to assets existing on 31/3/2014.

what will be the amount on which depreciation is charged for balance sheet of FY 14-15.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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11 June 2015 1. Depreciate the carrying amount for the remaining life.

2. Addition may be considered as a separate asset on which depreciation may be charged for the useful life.

vinee bansal

vinee bansal (Querist)
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11 June 2015 Ok sir.you mean suppose machine stands on 31/3/14 for 4560700.and new machine of similar nature purchase on 11/12/2014.then provide dep on carrying amt of machine stands on 31/3/2014 and provide dep for newly purchase assets seprately according to estimated useful life