Depreciation as per co. act 2013

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Querist : Anonymous

Querist : Anonymous (Querist)

06 May 2015 Is the rate of depreciation calculated on old assets in the financial year 2014-15, will be continue till the remaining life of asset?

Vishnu Saboo

Vishnu Saboo (Expert)
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06 May 2015 if you have recalculated the rate of dep on old assets as per co. act 2013, this rate will remain upto useful life end of asset for SLM.

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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06 May 2015 The crux is that you need to depreciate the assets fully over the remaining useful life of the asset. So if the rate is derived in such a way that the asset will be fully depreciated over the remaining useful life then the same rate will be used till the asset is fully depreciated.

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