The company act specifies useful life for single shift. let's say useful life is 20 years. If i use this machine for two or three shifts, then depreciation increases by 50% and 100 %. will my useful life will still be 20 years.
2 Replies
Vasudevan C P
(403 Points)
Replied 21 June 2021
Hi Aslam,
I think useful life of the asset doesn't change i.e in ur case it will be 20 years.
I think useful life of the asset doesn't change i.e in ur case it will be 20 years.
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 21 June 2021
Yes useful life still same
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