Query regearding dep rate in schedule ii
This query is : Resolved
CA Ankit Johri
(Querist)
11 March 2015
Depreciation rate Prescribed in Schedule II is applicable Prospectivey or retrospectively..
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
(Expert)
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????
so this formula is for SLM or WDV method????
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
Depreciation rate as per CA 2013 may be seen from link
https://www.caclubindia.com/share_files/depreciation-rate-chart-59179.asp#.VDkhgPmSzUs
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