Depreciation calculation schedule - ii

satyajit (Querist) 13 December 2014 This query is : Resolved
Dear Sir
We are using WDV Depreciation Method as per our Accounting Policy. Going forward also, we will be using same method of WDV for depreciating the asset. Below given is one example to understand the issue-
Asset Cost=22942
Date placed in service= 01st Nov 2009
WDV 40%
NBV as on 31-03-2014= 2482
Now, as per revised Rule (effective 01-APR-2014), this asset useful life is 6 years from date placed is service and salvage value will be 1147/-. We want to know what should be calculation methodology to depreciate the carrying amount of NBV 2482 over the remaining life of the asset using WDV method of Depreciation?
Regards
Satyajit

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ajay sethi (Expert) 14 December 2014
raise query in CA clubindia .com

prabhakar singh (Expert) 14 December 2014
It's a ca business not ours.

Surrender K Singal (Expert) 14 December 2014
What is the need to depreciate beyond NBV which you want to carry forward ? You can forgo claim of depreciation

malipeddi jaggarao (Expert) 16 December 2014
Though it is not legal query, there is no relation with the span of useful life when the asset's written down value becomes zero.

T. Kalaiselvan, Advocate (Expert) 16 December 2014
You may better consult your auditor who will be able to give a correct picture to your query.

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