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Depreciation on CCTV Camera

Ankesh Mishra (Accounts Assistant) (28 Points)

04 April 2019

What should be rate of depreciation on CCTV camera as per companies act?

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8 Replies

nagendra 05 (57 Points)
Replied 04 April 2019

if it comes under network then life should be 6 years. or If use as end user device the. life should be 3 years then rate should calcluted by using

=1-n√residual value /gross

Priya Kashyap (Student) (7048 Points)
Replied 04 April 2019

Machine hour rate or life hours could be the yardstick

nagendra 05 (57 Points)
Replied 04 April 2019

as per companies it should be on useful life of the asset

Ankesh Mishra (Accounts Assistant) (28 Points)
Replied 04 April 2019

what's useful life for CCTV?

nagendra 05 (57 Points)
Replied 04 April 2019

you take 5 years

Priya Kashyap (Student) (7048 Points)
Replied 05 April 2019

no it's not 5 years it shall be estimated on the basis of it's hrs used each week or day
useful life shall be based on its warranty period + brand estimate