Dep.
This query is : Resolved
charu natha
(Querist)
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
charu natha
(Querist)
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Reward for festival
- 18% Rent a cab
- Missed uploading GST Invoice
- Movement of goods by packers and movers - type of sale - Reg.
- ARCA LOGIN
- Appointment of Auditor By Form ADT-1
- TDS Return Statement Status
- Closer of business and itc of capital goods
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
