WDV Depreciation calculation as per companies act or AS to be done based on no of days or Month in a year ?
For e.g Asset opening value 10,000 and depreciation 10%, for an year Rs.1000.
April=10,000*10%/12 or 10,000*10%*30/365 ?
If calculated in Month basis, then for May Month Depreciation calculation will be done on Rs 10,000 or (Rs.10,000-(10%/12)) i.e Rs.9916.67.
Kindly state me , if any statement available regarding this is in schedule II or AS 6.
My question is depreciation to be calculated in Month or in days? for each Month and on which amount to be calculated?
CAclubindia
