Depreciation as per schedule-ii
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 April 2015
Dear Sir,
I have a query regarding the new method of Calulation of Depreciation based on useful life. My query is-
If we have a Business having three Busines Process. And we purchased a Machine only for Process 1 on 1/4/2005 and remaining processes are outsourced.
But later on, on 1-04-2010, we also purchased Machines for 2nd and 3rd Process and Combined all the three Machines as a Single Plant.
Now How the Rate of Depreciation Will be calculated????
Whether Separately on each machine or on the combined plant as a whole??
IF on the combined Plant as a whole, then How??
I have a query regarding the new method of Calulation of Depreciation based on useful life. My query is-
If we have a Business having three Busines Process. And we purchased a Machine only for Process 1 on 1/4/2005 and remaining processes are outsourced.
But later on, on 1-04-2010, we also purchased Machines for 2nd and 3rd Process and Combined all the three Machines as a Single Plant.
Now How the Rate of Depreciation Will be calculated????
Whether Separately on each machine or on the combined plant as a whole??
IF on the combined Plant as a whole, then How??
29 April 2015
Depreciation has to be calculated machine wise.
29 April 2015
Remaining useful life should be determined machinery wise and may be depreciated accordingly, though 'component accounting' becomes mandatory from 1-4-2015.
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