wdv is 83,815 rate of depreciation is 24 & no. of day is 75 how to calculate the depreciation
It depends upon Whether
We are preparing
Depreciation as per Companies Act (Applicable for Companies)
or
Depreciation as per Income Tax Act (Applicable for Non Companies)
Dep as per Companies Act
We calculate Depreciation on the basis of number of days used as shown below
Particulars | Amount |
Opening Value | 83815 |
Less | |
Depreciation (83815*24%*75/365) | 4133 |
Net Value | 79682 |
Dep as per Income Tax Act
We calculate Half Depreciation as asset used less than 180 days as shown below
Particulars | Amount |
Opening Value | 83815 |
Less | |
Depreciation (83815*24%*1/2) | 10058 |
Net Value | 73757 |
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