Query regearding dep rate in schedule ii

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CA Ankit Johri

CA Ankit Johri (Querist)
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11 March 2015 Depreciation rate Prescribed in Schedule II is applicable Prospectivey or retrospectively..

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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11 March 2015 It is prospectively from 01.04.2014 but new depreciation rate and useful life to be applied to existing assets as well.

CA Parul Saxena online

CA Parul Saxena online

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11 March 2015 Mr. Sanjay but in schedule rates are not given only useful life is given and a formula is to be applied for rate i.e. 1-(scrap value/original cost)nth root of useful life

so this formula is for SLM or WDV method????

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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11 March 2015 Parul ji the formula as stated by you is for SLM.

Depreciation rate as per CA 2013 may be seen from link

https://www.caclubindia.com/share_files/depreciation-rate-chart-59179.asp#.VDkhgPmSzUs