Depreciation as per co act 2013
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 June 2015
according to the sch-II of company act 2013 the useful life of computer is 3 years.so my query regarding this issue is that if computer is purchased on 26/06/2010 and we have depreciated as per wdv method til date and now how much we have to depreciate as per company act 2013 for the year ending 31/3/15
15 June 2015
Now you have to depreciate the the whole amount i.e WDV of the asset, in 31/03/2015.
You can only carry asset in books @5% of Purchase price of asset.
The remaining amount you need to write off.
In short WDV on 1/04/2014 - 5% of Purchase price would be required to be written off on 31/03/2015
You can only carry asset in books @5% of Purchase price of asset.
The remaining amount you need to write off.
In short WDV on 1/04/2014 - 5% of Purchase price would be required to be written off on 31/03/2015
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 June 2015
ok thank you sir
and as per IT act we have some amount of WDV
balance as on 31.3.2014. now how to deal with
Income tax.
and as per IT act we have some amount of WDV
balance as on 31.3.2014. now how to deal with
Income tax.
15 June 2015
dear
for purpose of income tax follow the approach as you were following before the schedule 2
Do not get confuse
Balance sheet s per companies act will be prepared apart from the balance sheet as per income tax act.
for purpose of income tax follow the approach as you were following before the schedule 2
Do not get confuse
Balance sheet s per companies act will be prepared apart from the balance sheet as per income tax act.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Inventory of finished goods
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Tds on building rent monthly
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Sale of property furniture sale
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- GST Regis.
- Applicability of Ind As to associate of associate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
