Schedule 2 depreciation
This query is : Resolved
dileep kumar kadambala
(Querist)
05 August 2015
hi friends,
is it mandatory to comply with schedule 2 depreciation as per new companies act 2013 for the f.y 2014-15.
if yes then I have a doubt regarding calculation of depreciation as per schedule 2.
I.e. if a manufacturing plant has no of plant and machinery which were acquired during the different previous years. then how will we calculate depreciation..we have to do separate computation for every indivial assets...
05 August 2015
if no new additions made then charge dep as per new co act 2013 sch2 using useful life of assets
05 August 2015
You have to calculate the depreciation asset wise.. Fixed asset register will help you find out the date of purchase of individual asset.
useful life given in schedule II and scarp value 0.5% of original cost.
useful life given in schedule II and scarp value 0.5% of original cost.
Amol S Joglekar
(Expert)
05 August 2015
LINE item : Calculate depreciation for each item of plant and machinery.
Dont get confused with BLOCK of asset concept.
Dont get confused with BLOCK of asset concept.
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