Depreciation

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Querist : Anonymous

Querist : Anonymous (Querist)

20 April 2015 a co.is using wdv method for depreciation.the useful life of machinery is over.still the depreciation has been charged for the same.what should it do?

Arpit Shah

Arpit Shah (Expert)
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20 April 2015 http://taxguru.in/company-law/rates-depreciation-companies-act-2013.html

Arpit Shah

Arpit Shah (Expert)
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20 April 2015 http://taxguru.in/company-law/rates-depreciation-companies-act-2013.html

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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20 April 2015 If the useful life of Asset is over as on 01.04.2014 then the remaining balance should be transferred to Retained Earnings.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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20 April 2015 Also check out Application Guide on the provisions of Schedule II to the Companies Act 2013 by Corporate Laws & Corporate Governance Committee of ICAI from link given below:

http://220.227.161.86/37329clcgc27675.pdf

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Querist : Anonymous

Querist : Anonymous (Querist)

21 April 2015 thank u so much mr.sanjay gupta