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Depreciation query

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Please tell me how to calculate useful life of o fixed assets and depriciation method and if a company  purchase mobile phone of Rs. 60700.00 as on 03.07.2017, software amounting Rs. 34406.78 as on 30.10.17 and Furniture of Rs. 32812.50 on 17.10.17. what will be its deprication in 31.03.2018 There were some fixed assets that had there opening balance as on 01.04.2017. Last year deprication schedules attached. Please guide me.

Thanks in advance


Attached File : 1652054 20180807180618 depriciation.jpg downloaded: 71 times
Replies (6)
mobile phone no dep, computer software 40%, furniture 10%
why no depreciation for mobile phone?
it does not classify under the category of asset

If you notice my attached file there were not use calculation of direct percentage like 40% or 15% where it was applicable, there were using some different deprication method  using formula like residual value, useful life of the assets etc. so please someone  tell me details about that.

air conditioner on television will fall under the block of furniture therefore 10% , car is a separate block therefore 15%, and incase of computer the rate is 40%....(all these rates are as per income tax act). the methods of depreciation vary from company to company depending upon the location, asset purchases and so on...

Sir

I want to know as per company Act


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