How to calculate dep in case of company act

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How to calculate Dep under Company Act

Purchase Assets 16-Jan-2016

Purchase Value 24300/-

As Per Co Act 

Kindly solve My Problem

 


Attached File : 1937573 20190725172422 far formula.xlsx downloaded: 62 times
Replies (10)

Hi Ravi,

The following details need to be considered for arriving at correct depreciation:

1. 95% of the Original Cost of the Asset is to be depreciated

2. 5% is allowed as residual value

3.95% of the Cost is depreciated based on the useful lives of the assets.

Thanks

 

 

 

Please find the link https://www.mca.gov.in/SearchableActs/Schedule2.htm for the details of the useful life of the assets.

Decide upon the category of the assets from the above schedule.

Say, if the asset falls under 10 Years category then,

Cost - 100,000

Residual Value - 5,000

Balance - 95,000

This 95,000 is depreciated @ 5,000 each for 10 years in the statement of the profit and loss

 

Let me know, if you have any further questions.

Originally posted by : Charan Raju
Please find the link https://www.mca.gov.in/SearchableActs/Schedule2.htm for the details of the useful life of the assets.

Decide upon the category of the assets from the above schedule.

Say, if the asset falls under 10 Years category then,

Cost - 100,000

Residual Value - 5,000

Balance - 95,000

This 95,000 is depreciated @ 5,000 each for 10 years in the statement of the profit and loss

 

Let me know, if you have any further questions.

Dear Sir,

How to put this formula under Excel 

Kindly Help

I Also attched File above Forum

Its Open Issue 

Kindly resolve

Use this Formula to find rate in case of WDV,

 

R= {1 – (s/c)^1/n } x 100

Where R = Depreciation rate (in %)

n = Remaining life of the asset (in years)

s = Residual Value

c= Written down value of the asset

^ - Means Power ( 4^3 Means 4 to the power of 3 = 4*4*4=64)

Insert the values and find a online calculator for the above 

Use this Formula to find rate in case of WDV,

 

R= {1 – (s/c)^1/n } x 100

Where R = Depreciation rate (in %)

n = Remaining life of the asset (in years)

s = Residual Value

c= Written down value of the asset

^ - Means Power ( 4^3 Means 4 to the power of 3 = 4*4*4=64)

Insert the values and find a online calculator for the above 

Kindly provide this formula after put in excel file in my case

See if it helps.

 

 

 

Originally posted by : Manish
See if it helps.

 

 

 

Dear Sir

If  Assets Purchase on 01-Jan-2018 and life taken only 3 Year

Than how to calculate tax in excel

.

 

 

 

 

 


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