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Depreciation for the year fy 2015-16
Previous year, depreciation was charged by computing the rate based on useful life.. the same rate has to be applied for calculating depreciation in current year?
Replies (2)
Yes, Same rate is applicable only if Useful life doesn't change. I mean if you upgrade or make any changes in the asset and due to it if Useful life extends then Depreciation rate will change accordingly.
Thanks for the help.
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