Calculation of dep. as co.act. 2013

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

09 July 2015 if date of purchase of computer (which has useful life 3 yrs.) is 08/08/2005 amount rs. 7757, then whether depreciation will be charged as on 31/03/2015 as per co. act. 2013.
pls. provide me appropriate calculation as soon as possible.
it means balance amt.7369 will be deducted from retained earnings? as well as where residual value will be adjusted?

Ankur Singhal

Ankur Singhal (Expert)
Follow

10 July 2015 Dear
As per companies act 2013 The useful life of your computer is nil.
So no depreciation will be charged.

Dear take the residual value (maximi=um 5% of original cost) & deduct it from the WDV i.e 7757/- the balance amount will be transferred to the opening balance of retained earnings

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

10 July 2015 it means balance amt.7369 will be deducted from retained earnings? as well as where residual value will be adjusted?

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

sriram deven

Taxlet

K.Govindarajan

efiletax

MAYANK

Subscribe Now

Calculation of dep. as co.act. 2013

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA