Calculation of depreciation

This query is : Resolved

parag (Querist)
Follow

03 September 2014 Dear Expert

We are following WDV method for Depreciation. We have asset namely office furniture that we have purchased on 1-4-2012 and so far we have calculated depreciation as per WDV. As on 1-4-2014, the opening balance of the said asset is Rs. 35,000/-. Request you to advice how to calculate depreciation on the said asset from 1-4-2014 as per new company act , 2013 i.e. schedule-II.

Thanks in advance.

Vishnu Saboo

Vishnu Saboo (Expert)
Follow

04 September 2014 as per new schedule you need to see
(A) remaining useful life.
now calculate
(B)depreciable value after residual value.
divide B with A, what amount comes from this is depreciation for the period.