28 July 2014
SUPPOSE IN LAST YEAR A NEW PLANT IS SET UP ND HIS MACHINERY WERE RS.50 LACS AND NOW WHAT IS THE TREATMENT OF FIXED ASSET IN THIS YEAR ACCORDING TO NEW ACT AND PLEASE ALSO SEND ME THE FULL DETAIL ABOUT IT .
28 July 2014
as per earlier provision, dep rate was 4.75% in case if single shift in plant & machinery. as per revised company act2013, it is 15 year of useful life, so rate of dep is 6.33% in single shift. you capitalized the plant in last year, so calculate the useful life remained of ur P&M as on 01.04.2014. accordingly calculate the depreciation.
31 July 2014
yes, 14 year + if month also yet there. if a machine already completed life of 15 years and still in block due to old dep method, then the rest amount excluding residual value to be trf to P&L.
31 July 2014
yes, 14 year + if month also yet there. if a machine already completed life of 15 years and still in block due to old dep method, then the rest amount excluding residual value to be trf to P&L.
CAclubindia
