09 October 2018
Hi everyone expet, i request to you regarding how to deduct depreciation according company act. i purchase a motor cycle as on date 03.02.2018. please let me know about depreciation on motor cycle. thanks and regards, Mohd Nasruddin
09 October 2018
If straight line method is followed, not less the 95% of the cost is to be equally depreciated for the life of the asset as prescribed in schedule II of the Companies Act,2013. Since the asset is purchased during the year, provide depreciation for the number of days used to be arrived at pro-rata basis.
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