Depreciation calculation as per companies act


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This discussion clarifies the asset life and depreciation calculation for hotels under the Companies Act. The standard asset life is set at 60 years, with a straight-line depreciation rate of 1.58% applicable. This information is crucial for accurate financial reporting and tax purposes.

01 October 2021 A hotel (lodge) , rents out the rooms to guests, what is the life of asset as per the Companies Act.

01 October 2021 60 years is the life of the asset and depreciation rate is 1.58% straight line.

01 October 2021 Thank you sir
R S Sai Kumar


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