Dep.
This query is : Resolved
14 April 2012
Cost 105000
Scrap value 5000
Life 10 years
Cal. Dep. Rate Wdv method
Scrap value 5000
Life 10 years
Cal. Dep. Rate Wdv method
14 April 2012
Calculate depn by wdv
16 April 2012
Dear Charu,
In case of WDV method the scarp value is not considered. Now, there are tow acts involved if it is a company. In case of WDV from the point of view of companies act you have to calculate the same as per Schedule 10 and on the basis of the specified rates that too only for the number of days the assets are used. As per Income Tax Act the concept is less than 180 days and above 180 days. If the assets are purchased before 180 days then full depreciation if less than 180 days then half depreciation as per the rates as fixed by the act. Now, under which act it is required to be calculated as you have not given the date of purchase it is very difficult to calculate.
In case of WDV method the scarp value is not considered. Now, there are tow acts involved if it is a company. In case of WDV from the point of view of companies act you have to calculate the same as per Schedule 10 and on the basis of the specified rates that too only for the number of days the assets are used. As per Income Tax Act the concept is less than 180 days and above 180 days. If the assets are purchased before 180 days then full depreciation if less than 180 days then half depreciation as per the rates as fixed by the act. Now, under which act it is required to be calculated as you have not given the date of purchase it is very difficult to calculate.
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