Depreciation as per schedule ii
This query is : Resolved
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.
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.
13 July 2015
Charge depreciation based on number remaining useful life in months as on 1-4-14.
14 July 2015
Hi Sahil -
Depreciation to be charged based on useful life of the asset is been put in
Depreciation to be charged based on useful life of the asset is been put in
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