28 November 2015
If i had purchased an asset on say for example 1st Jan 2010 i.e FY 09-10 and now for FY 14-15 i have to apply depreciation as per Sch II nw for calculating the remaining useful life of that asset what shall be my approach?
Should i take complete FY 09-10 in expired life or should i take only 3 months of that yr, i.e in short whether the actual no. of days asset used concept prevail here?
CAclubindia
