Depreciation for f.y. 2015-16 (first year) as per comp. act

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Anil (Querist)
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21 June 2016 Sir,
We have purchase Machines, Furniture, Generator for our new plant in F.Y. 2015-16 and production has start in Sept'2015.

Please tell me that what percentage of Depreciation will be charged for our First F.Y. for following items, as per COMPANIES ACT:

1. Building
2. Plant & Machinery
3. Furniture
4. Generator
5. Office Equipment
6. Electric Applainces
7. Scooter & Bike

Waiting for reply.

CA Amrita Chattopadhyay

CA Amrita Chattopadhyay (Expert)
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22 June 2016 As per the Companies Act, 2013 number of years is prescribed for the depreciation of assets. Kindly refer to Schedule II of Companies Act 2013 for the depreciation years.

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Anil

Anil (Querist)
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22 June 2016 Suppose we purchase & start to use a machine, costing Rs. 10000 on 01.07.2015. What will be the depreciation % for that machine for F.Y. 2015-16 for 9 Months. Please reply with example (Solved)