How to calculate Dep under Company Act
Purchase Assets 16-Jan-2016
Purchase Value 24300/-
As Per Co Act
Kindly solve My Problem
10 Replies
Charan Raju
(132 Points)
Replied 25 July 2019
Hi Ravi,
The following details need to be considered for arriving at correct depreciation:
1. 95% of the Original Cost of the Asset is to be depreciated
2. 5% is allowed as residual value
3.95% of the Cost is depreciated based on the useful lives of the assets.
Thanks
Charan Raju
(132 Points)
Replied 25 July 2019
Please find the link https://www.mca.gov.in/SearchableActs/Schedule2.htm for the details of the useful life of the assets.
Decide upon the category of the assets from the above schedule.
Say, if the asset falls under 10 Years category then,
Cost - 100,000
Residual Value - 5,000
Balance - 95,000
This 95,000 is depreciated @ 5,000 each for 10 years in the statement of the profit and loss
Let me know, if you have any further questions.
Ravi SADhiyan
(Practice)
(4510 Points)
Replied 25 July 2019
| Originally posted by : Charan Raju | ||
 |
Please find the link https://www.mca.gov.in/SearchableActs/Schedule2.htm for the details of the useful life of the assets. Decide upon the category of the assets from the above schedule. Say, if the asset falls under 10 Years category then, Cost - 100,000 Residual Value - 5,000 Balance - 95,000 This 95,000 is depreciated @ 5,000 each for 10 years in the statement of the profit and loss Let me know, if you have any further questions. |
 |
Dear Sir,
How to put this formula under Excel
Kindly Help
I Also attched File above Forum
Charan Raju
(132 Points)
Replied 25 July 2019
Use this Formula to find rate in case of WDV,
R= {1 – (s/c)^1/n } x 100
Where R = Depreciation rate (in %)
n = Remaining life of the asset (in years)
s = Residual Value
c= Written down value of the asset
^ - Means Power ( 4^3 Means 4 to the power of 3 = 4*4*4=64)
Insert the values and find a online calculator for the above
Charan Raju
(132 Points)
Replied 25 July 2019
Use this Formula to find rate in case of WDV,
R= {1 – (s/c)^1/n } x 100
Where R = Depreciation rate (in %)
n = Remaining life of the asset (in years)
s = Residual Value
c= Written down value of the asset
^ - Means Power ( 4^3 Means 4 to the power of 3 = 4*4*4=64)
Insert the values and find a online calculator for the above
Ravi SADhiyan
(Practice)
(4510 Points)
Replied 25 July 2019
Kindly provide this formula after put in excel file in my case
(Guest)
See if it helps.
Attached File : 486128 20190726080538 far formula.xlsx downloaded: 85 times
Ravi SADhiyan
(Practice)
(4510 Points)
Replied 26 July 2019
| Originally posted by : Manish | ||
|
See if it helps. |
|
Dear Sir
If Assets Purchase on 01-Jan-2018 and life taken only 3 Year
Than how to calculate tax in excel
(Guest)
.
Attached File : 486128 20190727125604 486128 20190726080538 far formula.xlsx downloaded: 107 times
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