Depreciation on fixed assets

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

06 May 2014 SIR,
A LIMITED COMPANY IS CHARGING DEPRECIATION ON ITS VARIOUS FIXED ASSET ON W.D.V METHOD AT THE RATES MENTIONED IN SCHEDULE XIV FOR THE LAST SEVERAL YEARS
SIR I AM NOT CLEAR THAT FOR THE CURRENT F.Y 2013-14 HOW THE DEPRECIATION WILL BE CHARGED UNDER THE NEW COMPANIES ACT 2013
SIR, PLEASE GUIDE ME

Nikhil Kaushik

Nikhil Kaushik (Expert)
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06 May 2014 the rates remain same. to understand the differences between companies act 1956 and 2013 on depreciation, refer below:

please refer https://groups.google.com/forum/#!topic/csmysore/EQWoHH0gFaw

http://www.icai.org/resource_file/32921clcgc22702.pdf

for rates, refer page 259 of http://www.mca.gov.in/Ministry/pdf/CompaniesAct2013.pdf

Querist : Anonymous

Querist : Anonymous (Querist)

07 May 2014 sir, if a company is charging depreciation @13.91% on plant and machinery and the W.D.V is Rs.150000/-
sir what will be the amount of depreciation for the current F.Y. 2013-14

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