04 June 2015
Dear Sir/Madam,
Kindly clarify the below doubts w.r.t. depn.under new companies act, 2013 - WDV method;
Case:
Date of acquisition of asset:� 01.01.2012
Original Cost:� Rs.100000
Carrying amount as on 01.04.14:� Rs.71545
Scrap Value:� Rs.5000
Method of Depn:� WDV
Life of the asset as per New Act:� 15 Years
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Doubts:
1.������ �As per new provisions of Companies Act,2013, remaining useful life of the asset (n) would be 12 years or 12.75 years?
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2.������ In formula (1-((S/C)^(1/n))*100;
��������� ���������C = ?Original cost? or ?Carrying cost as on 01.04.14? for the above mentioned case.
CAclubindia
