Depreciation as per co. act 2013
This query is : Resolved
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
(Expert)
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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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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