Depreciation as per sch ii

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Dear Professional, I have A Doubt in Depreciation as per Sch II.If i purchased a computer on 01.07.2014 for Rs.10000.

Deprecation rate 1-(500/10000)1/3=0.63

Depreciation till life of asset

2014-15      10000*0.63*270/360=4725

2015-16      (10000-4725)*0.63=3323.25

2016-17       (10000-4725-3323.25)*0.63=1229.6

2017-18      (10000-4725-3323.25-1229.6)*0.63*90/360=113.74

Residual Value=10000-4725-3323.3-1229.6-113.74 =608.41

Residual Value has to come Rs.500 by applying above rate but it came to to 608. what is wroung in this calculation?

Replies (2)

at the end of the usefull life diff between opening wdv and salvage value has to shown as depreiction. It will not auto calculate 

 

sir,any provision are like that or is it your opinion? 


CCI Pro

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