Depreciation -SLM

If a machinery has been purchase for Rs. 5 Lac on 20 April 2007 and rate of depreciation (straight line method) is 4.75%. How will the depreciation be calculated for F.Y. 2007-08 & 2008-09 under the company act?

According to theoretical concept.....Dep (SLM) = (Cost - Scrap Value)/life of asset

But practically how to calculate ?

will the depreciation be calucated @ 4.75% on the original cost for every year ?

Replies (1)
Yes under straight line method, the rate shall be applied on the original cost every year. So the amount of depreciation will be same for all the years.

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