Depreciation on carrying amount.

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

Replies (1)
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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