Effect of depreciation according to co.act 2013
This query is : Resolved
28 July 2014
SUPPOSE IN LAST YEAR A NEW PLANT IS SET UP ND HIS MACHINERY WERE RS.50 LACS AND NOW WHAT IS THE TREATMENT OF FIXED ASSET IN THIS YEAR ACCORDING TO NEW ACT AND PLEASE ALSO SEND ME THE FULL DETAIL ABOUT IT .
28 July 2014
as per earlier provision, dep rate was 4.75% in case if single shift in plant & machinery.
as per revised company act2013, it is 15 year of useful life, so rate of dep is 6.33% in single shift.
you capitalized the plant in last year, so calculate the useful life remained of ur P&M as on 01.04.2014. accordingly calculate the depreciation.
as per revised company act2013, it is 15 year of useful life, so rate of dep is 6.33% in single shift.
you capitalized the plant in last year, so calculate the useful life remained of ur P&M as on 01.04.2014. accordingly calculate the depreciation.
31 July 2014
means depreciation is to be calculated on 14 years of remaining life
31 July 2014
and one more thing if a machinery is depreciated for last 15 year and still in block then what is the treatment in this year
31 July 2014
yes, 14 year + if month also yet there.
if a machine already completed life of 15 years and still in block due to old dep method, then the rest amount excluding residual value to be trf to P&L.
if a machine already completed life of 15 years and still in block due to old dep method, then the rest amount excluding residual value to be trf to P&L.
31 July 2014
yes, 14 year + if month also yet there.
if a machine already completed life of 15 years and still in block due to old dep method, then the rest amount excluding residual value to be trf to P&L.
if a machine already completed life of 15 years and still in block due to old dep method, then the rest amount excluding residual value to be trf to P&L.
Message likes :
1 times
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
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- 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
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
