Depreciation
This query is : Resolved
Sankar Chakraborty
(Querist)
20 June 2016
Please let me know how to calculate depreciation under new act 2013. if useful life is overs then how to find WDV AS ON 31.03.2016 ---PLEASE GUIDE
EXAMPLE
FURNITURE & FIXTURES
DATE OF PURCHASE
21.02.2004 AMT: 6580.00 DEPRECIATION RATE FROM BEGINING @18.10% AND USEFULL LIFE 10 YEARS
EXAMPLE
FURNITURE & FIXTURES
DATE OF PURCHASE
21.02.2004 AMT: 6580.00 DEPRECIATION RATE FROM BEGINING @18.10% AND USEFULL LIFE 10 YEARS
Amol S Joglekar
(Expert)
20 June 2016
since useful life as per original estimation is over, you get the certificate from approved valuer to know if there exists any balance of useful life for the said asset. If yes, then calculate the depreciation as per new useful life. If no, then simply, add back, depreciation, if any, over charged so far
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