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Calculation of Depreciation as per Companies act 2013

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(Querist)
16 December 2019 Sir,
1. If an asset Purchased on March in the Financial year What will be the chargeable Depreciation as per companies Act 2013.
2. If an second hand asset Purchased during the Financial Year what will be the useful life if the remaining useful life is nil
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
16 December 2019 1 charge one month depreciation based on number of useful months available.
2 One year is the useful life so charge it fully.

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