Depriciation as per companies act

This discussion clarifies depreciation rules under the Companies Act, particularly concerning assets sold in 2021 using the SLM basis. It addresses whether the WDV becomes nil when an asset is sold and the implications for residual and salvage values. The key takeaway is that if SLM and WDV rates differ, a residual value may remain. Depreciation isn't claimed if an asset is held for sale, but retirement implies full depreciation and potential deferred tax.