Depreciation- schedule 2

Save Share

This query is : Resolved

anusha (Querist)

24 July 2015 Sir
I want some guidence to calculate depreciation as per Sch.02 of Cos Act 2013
Situation 01
I dont know the date of purchase, i have only WDV as on 31.3.2014 of some plant and machinery.
Situation 02
If any addition was made in 2007-08 to the same plant and machinery how to calculate in that case
Situation 03
When there are number of assets in P/M block purchased in the current year at different dates.

Amol S Joglekar

Amol S Joglekar (Expert)

24 July 2015 Situation 1 : Please catch hold of a good mathmatician..There is a very good formula of finding N (Period) when wdv as on today is known and the rate of depreciation is also known.

Situation 2 : In that case, again you can make use of the said formula.

Situation 3 : When ever there are more than one asset in a block...calculate depreciation per asset rather than calculating it for BLOCK.

anusha

anusha (Querist)

28 July 2015 In case of any deletion made in the year 2011-12, and balance is there in the P/M Block, how to show the effect of that in claculating Dep. Sch 2

Amol S Joglekar

Amol S Joglekar (Expert)

30 July 2015 Since the asset does not exist in reality after deletion, the same need not be shown in sch 2

Your views please.

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