We are following WDV method for Depreciation. We have asset namely office furniture that we have purchased on 1-4-2012 and so far we have calculated depreciation as per WDV. As on 1-4-2014, the opening balance of the said asset is Rs. 35,000/-. Request you to advice how to calculate depreciation on the said asset from 1-4-2014 as per new company act , 2013 i.e. schedule-II.
04 September 2014
as per new schedule you need to see (A) remaining useful life. now calculate (B)depreciable value after residual value. divide B with A, what amount comes from this is depreciation for the period.
CAclubindia
