Depreciation transition under new companies act,2013 - wdv
This query is : Resolved
04 June 2015
Dear Sir/Madam,
Kindly clarify the below doubts w.r.t. depn.under new companies act, 2013 - WDV method;
Case:
Date of acquisition of asset:� 01.01.2012
Original Cost:� Rs.100000
Carrying amount as on 01.04.14:� Rs.71545
Scrap Value:� Rs.5000
Method of Depn:� WDV
Life of the asset as per New Act:� 15 Years
�
Doubts:
1.������ �As per new provisions of Companies Act,2013, remaining useful life of the asset (n) would be 12 years or 12.75 years?
�
2.������ In formula (1-((S/C)^(1/n))*100;
��������� ���������C = ?Original cost? or ?Carrying cost as on 01.04.14? for the above mentioned case.
04 June 2015
Carrying Cost needs to be considered.
Here, C=Carrying Cost and N=Remaining Useful Life.
Here, C=Carrying Cost and N=Remaining Useful Life.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting our of sec 44AD
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Regarding appeal to GSTAT
- Value of property in capital gain
- Copyright software
- Regarding TDS Applicability For Director Remuneration
- Multiple trade mark
- Transporter Declaration form
- LC charges in relation to Asset purchased should be Capitalised ?
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
