Depreciation
This query is : Resolved
11 May 2012
WHAT IS METHOD OF DEPRECIATION CALCULATION.
WHAT IS WDV & SLM IN COMPANY ACT?
WHAT IS WDV & SLM IN COMPANY ACT?
11 May 2012
Method of calculating depreciation is as under:
Income Tax Act - Only WDV method allowed.
Companies Act - Either SLM or WDV method can be followed.
SLM - Straight Line Method
Calculation:
(Cost less Scrap Value)/Life
Under this method the cost of the asset is spread over the useful life of the asset.
WDV - Written Down Value
In this case the depreciation is charged at a specified percentage on the diminishing balance.
Income Tax Act - Only WDV method allowed.
Companies Act - Either SLM or WDV method can be followed.
SLM - Straight Line Method
Calculation:
(Cost less Scrap Value)/Life
Under this method the cost of the asset is spread over the useful life of the asset.
WDV - Written Down Value
In this case the depreciation is charged at a specified percentage on the diminishing balance.
Message likes :
1 times
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
- ITR 2 Short Term gain & Long term gain
- Itr 1 processing
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- ITR returnFY25-26
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
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
