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Depreciation as per companies act 2013

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(Querist)
14 July 2015 While computing depreciation as per amended companies act 2013 the residual value of an asset is Rs. 20000 and the WDV of asset is Rs. 12000 and the remaining life is 5 years how to treat this & how to show in financial statements
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
14 July 2015 Keep the WDV of Rs 12000 as residual value and don't charge any depreciation further.
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herinakkara

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herinakkara (Querist)
14 July 2015 so retain Rs.12,000 as value of asset .what is to be done after 5 years ? whether is to be transferred to reserves or not
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
14 July 2015 Nothing to be done after 5 years till the asset is disposed off.
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