Depreciation on fixed assets

Save Share

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

06 May 2014 SIR,
A LIMITED COMPANY IS CHARGING DEPRECIATION ON ITS VARIOUS FIXED ASSET ON W.D.V METHOD AT THE RATES MENTIONED IN SCHEDULE XIV FOR THE LAST SEVERAL YEARS
SIR I AM NOT CLEAR THAT FOR THE CURRENT F.Y 2013-14 HOW THE DEPRECIATION WILL BE CHARGED UNDER THE NEW COMPANIES ACT 2013
SIR, PLEASE GUIDE ME

Nikhil Kaushik

Nikhil Kaushik (Expert)

06 May 2014 the rates remain same. to understand the differences between companies act 1956 and 2013 on depreciation, refer below:

please refer https://groups.google.com/forum/#!topic/csmysore/EQWoHH0gFaw

https://www.icai.org/resource_file/32921clcgc22702.pdf

for rates, refer page 259 of https://www.mca.gov.in/Ministry/pdf/CompaniesAct2013.pdf

Querist : Anonymous

Querist : Anonymous (Querist)

07 May 2014 sir, if a company is charging depreciation @13.91% on plant and machinery and the W.D.V is Rs.150000/-
sir what will be the amount of depreciation for the current F.Y. 2013-14

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now