Depreciation as per companies act 2013

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Heta (Querist)
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01 June 2015 If the cost of asset is not determinable how to calculate depreciation as per schedule II of companies act 2013.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 June 2015 Why cost of asset is not determinable? You must have FA Register. Please put up the query in detail.

Heta

Heta (Querist)
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01 June 2015 For eg. If there a building purchased during 1992-1993, and its not possible to determine the original cost of the same, what should be done?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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02 June 2015 At what value the Building is appearing in the books?

Heta

Heta (Querist)
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02 June 2015 15 lac opening bal as on 1st april 14

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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02 June 2015 I think it is the WDV. So you just need to depreciate it over the remaining useful life of the Asset.

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