Depreciation on carrying amount.

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24 Points Posted on 30 June 2016

Furniture & Fixture purcahsed on 25.10.2007  Rs. 99,960 accumlated dep on 31.03.2015 Rs.77,189 WDV as on 31.03.2015 Rs. 22,771. now i want to know what would be depreciation for f.y. 2015-16 as per new companies act. because schedule is mandatory from f.y. 2015-16. so please revert as soon as possible.

 

Thanks & Warm Regards

Manish

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On 30 June 2016 at 11:20 Report
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Chartered Accountant
2229 Points Posted on 30 June 2016
as per sch.ii of co.act,2013 depreciation oj asset is to be provided on the basis of their useful lives given in schedule. General P& M have useful life of 10 years and you can take upto 5% residual value. Provide depreciation accordingly.
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On 30 June 2016 at 13:03

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