Depreciation rates

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riddhi (Querist)
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27 February 2014 i want to know the rates as per companies act
computers
furniture
electric machinery
motor car
i applied 60%,10%,15% for the last two with no of days but as per the previous audit report annexure it is given that the company is using slm method for depreciation and opening balance for depreciation is also given which i included in my calculation still itz not tallying

Sandeep Dharar

Sandeep Dharar (Expert)
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27 February 2014 If it applies SLM then u should apply the same.

The rates mentioned by u r correct.
U should charge half rate if it is purchased or installed or put to use after 180 days.

& if it falls short of 180 days then full rate.

Sanket

Sanket (Expert)
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27 February 2014 Computer --- 16.21 %
Furniture --- 6.33 %
Machinery --- 4.75 %
Motor Car --- 9.50%

Above rates are for Straight line method as per companies act.

riddhi

riddhi (Querist)
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27 February 2014 Thanks a lot. itz tallying now

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