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Query regarding calculation of depriciation as per new companies act 2013

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(Querist)
05 August 2015 If the residual value of an asset is 14 lacs and its WDV is 2 lakhs, what shall be the treatment of the residual value?? Also, The life of the asset is exhausted within this year. Please help me out.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
05 August 2015 if life is exhausted then the bal as on 1.4.2014 shall be transferred to retained eranings.
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Amol S Joglekar

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Amol S Joglekar (Expert)
05 August 2015 Hope your value of 14 lakh fits well in the ceiling limit of 5% of the cost of asset?

Can you please clarify the same?
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