Depreciation under companies act 2013
This query is : Resolved
parth jani
(Querist)
22 February 2015
For Example
An Enterprise has purchased a machine on 1-4-2006, which has a useful life of 15 years..and rate of depreciation was 20% as per enterprise's accounting policy.
what is the remaining useful life of the machine under companies act 2013 as on 1-4-14?
what is the amount of depreciation for the year 2014-15?
Vishnu Saboo
(Expert)
25 February 2015
if dep rate was 20%, it must be ceased as on 01.01.2014.
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