Depreciation as per co. act 2013
This query is : Resolved
HEENA RAWAT
(Querist)
30 April 2015
how are we going to apply the new rate as per co. act 2013 on old assets?
as all assets have been given life span ..like car - 8 years
as all assets have been given life span ..like car - 8 years
CA AnKiT BoHrA (AB)
(Expert)
30 April 2015
https://taxguru.in/company-law/note-calculation-depreciation-companys-act-2013.html
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HEENA RAWAT
(Querist)
04 May 2015
thanks sir.. can you give any example so it will be more easy to understand.. actually i don't get it properly.
CA AnKiT BoHrA (AB)
(Expert)
04 May 2015
https://financeonline.in/2014/12/24/depreciation-as-per-companies-act-2013/
CA AnKiT BoHrA (AB)
(Expert)
04 May 2015
https://www.caclubindia.com/articles/depreciation-companies-act-2013-the-practical-implication-21148.asp#.VUctvNKqqko
HEENA RAWAT
(Querist)
04 May 2015
if new rates are already mention in depreciation chart as per co. act 2013. then why should be calculate new rate of depreciation according to formula mention below:
rate= 1-(s/c)^(1/n))*100
rate= 1-(s/c)^(1/n))*100
CA AnKiT BoHrA (AB)
(Expert)
04 May 2015
These rates are calculated, not given
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HEENA RAWAT
(Querist)
06 May 2015
shall we have to calculate rates of depreciation on each individual assets as per their useful life?
CA AnKiT BoHrA (AB)
(Expert)
06 May 2015
yes we had too... thats the main issue is going with us.. we are mining company and having thousands of assets in our books... seriously a tough job to handle this now
HEENA RAWAT
(Querist)
06 May 2015
Really sir its really tough work and irritating also :-(
but we have to do this.
sir i have a 1 more query that if we are not changing the method and using same method i.e WDV then is there any need to find out the difference between old and new rate of depreciation. if yes then how can we adjust the difference?
but we have to do this.
sir i have a 1 more query that if we are not changing the method and using same method i.e WDV then is there any need to find out the difference between old and new rate of depreciation. if yes then how can we adjust the difference?
HEENA RAWAT
(Querist)
06 May 2015
sir i m very much confused in new co. act rules.
please help me out i have a few queries.
..
is the same rate charged in remaining life of assets which we will calculated on old assets in this f.y 2014-15 ?
please help me out i have a few queries.
..
is the same rate charged in remaining life of assets which we will calculated on old assets in this f.y 2014-15 ?
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