08 April 2015
If a computer is purchased for Rs 20000 on 20.12.2014, then depreciation for this accounting year 2014-15 would be taken for the period of use. As per schedule II useful life will be 3 years. so depreciation will be(cost -residual value)/3 years. But what would be depreciation taken for 2014-15? will it be (20000-0)/3=6667. For 14-15- 6667*102/365=1863.