banner_ad

Depreciation as per schedule ii

This query is : Resolved 
Profile Image

Profile Image

(Querist)
13 July 2015 Companies Act 2013 specifies that carrying amount of asset as on 1-4-14 is to be depreciated over the remaining useful life.

Suppose I have purchased a Plant & Machinery on 11/11/2012 for Rs. 1,00,000/-
Sch-II specifies Useful life to be 10 years.

What should I consider remaining useful life of asset as on 1-4-14, since asset was purchased in mid of year.
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
13 July 2015 Charge depreciation based on number remaining useful life in months as on 1-4-14.
Profile Image

CMA Gul S

Profile Image

CMA Gul S (Expert)
14 July 2015 Hi Sahil -
Depreciation to be charged based on useful life of the asset is been put in
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details