Schedule-ii : depreciation
This query is : Resolved
29 April 2015
Dear Sir,
I have a query in respect of Schedule-II. My query is:
An small IT Company which purchases Computers every year for expansion. Now WDV of all these computers purchased till 31/03/2014 is Rs. 1000000. Cost of these computers when they were purchased was Rs, 5500000.
Now my question is that what will be the remaining life for these computers as we purchase computers every year almost.
I have a query in respect of Schedule-II. My query is:
An small IT Company which purchases Computers every year for expansion. Now WDV of all these computers purchased till 31/03/2014 is Rs. 1000000. Cost of these computers when they were purchased was Rs, 5500000.
Now my question is that what will be the remaining life for these computers as we purchase computers every year almost.
CA R SEETHARAMAN
(Expert)
29 April 2015
Each computer purchased has to be depreciated separately. So the remaining use full life of each computer has to be assessed separately and depreciation charged based on remaining use full life.
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