How to calculate depreciation as per companies act 2013
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As per companies act 2013, the depreciation is calculated on the basis of useful life of asset. Schedule II of companies act 2013, provides for useful life of depreciable assets which can be used to calculate depreciation based on WDV and SLM method. Till now we used to calculate the depreciation as per schedule IV of the companies act 1956. From 1st April 2014 onwards, depreciation will be calculated as per companies act 2013.
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