Schedule ii
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 June 2015
Dear Sir,
My query is regarding to schedule II of companies Act 2013.How to give effect as per schedule II on computer purchased on 16/08/2011 as computer is having useful life of 3 years as per schedule II which is expiring in the very first year of application of schedule II?
My query is regarding to schedule II of companies Act 2013.How to give effect as per schedule II on computer purchased on 16/08/2011 as computer is having useful life of 3 years as per schedule II which is expiring in the very first year of application of schedule II?
28 June 2015
You will need to depreciate the computer fully in FY 2014-15 after keeping the scrap value which shall not be more than 5% of the Cost of Acquisition.
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