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Swati mukherjee
How to calculate Depreciation on Furniture in F.y 2015-16? as per company Act?
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As per schedule ii of companies act,2013 depreciation on assets is to be calculated based on their estimated useful life as per schedule. For Furniture & fixtures(general) useful life is given as 10 years, estimated residual value 5% of original cost accordingly SLM rate comes out to be 9.5% and WDV rate comes out to be 25.89%
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