The company act specifies useful life for single shift. let's say useful life is 20 years. If i use this machine for two or three shifts, then depreciation increases by 50% and 100 %. will my useful life will still be 20 years.
Menu
Useful life as per company act 2013
Replies (2)
Quick Summary
Hi Aslam,
I think useful life of the asset doesn't change i.e in ur case it will be 20 years.
I think useful life of the asset doesn't change i.e in ur case it will be 20 years.
Yes useful life still same
Recent Topics :
- Reply plz guys
- Tax Deduction and Collection Account Number
- Where can students practice XAT PYQs effectively?
- Gst on Guest house 5% without ITC
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
- GST Treatment and Reporting of Share & Mutual
- AGM Defective Notice
- IMS Rejection of Sales and Sales return
- Taxation of Gift - Father to Daughter
Related Topics :
CAclubindia
