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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?
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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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