Rate of depreciation under companies act
This query is : Resolved
19 September 2016
Respected Experts, Please help me to know that what is the Rate of depreciation for computer & furniture for AY-2016-17 under companies act.
20 September 2016
Under the Companies Act, there is no standard rate of Depreciation. It is based on the balance useful life of the assets. For example,If your asset has still 430 days balance useful life, then your rate of dep will be Net book value of the aseet/balance useful life.
The general useful life for Furniture as per CA ACT is 10 years,for computer devices like desktop,laptop, 3 years, servers it is 6 years.. So calculate accordingly.
The general useful life for Furniture as per CA ACT is 10 years,for computer devices like desktop,laptop, 3 years, servers it is 6 years.. So calculate accordingly.
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