15 May 2015
Further, by applying the transitional provisions of Schedule II, balance WDV of Rs 762,500 needs to be depreciated over the balance useful life of 10 years considering the residual value of 5%. Hence, depreciation for the year 2014-15 and yearly depreciation for next nine years would be Rs 63,333.(SLM) Cost of asset was Rs 1000000. Experts plz guide how depreciation of Rs 63333 calculated?
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