CA Pawan Kumar Agarwal
Depreciation Calculator Version 2 –Compliant to Schedule II of Companies Act 2013 : Financial Year 2015-16 to Fy 2019-20 enabled – FREE Download
WHAT IS NEW- in this updated Version 2.0
1. Calculation of Depreciation and WDV for Fin Year 2015-2016 to Fin Year 2019-2020.
2. Consolidated Fixed Asset Register (itemised) for Fin Year 2014-15 to 2016-2017 including location wise details, akin to gross block concept.
3. The aspect of sale of fixed asset and the corresponding depreciation thereof also considered in this version, including for Fin Year 2014-15 and onwards.
4. Master Pivot Sheet updated to provide overview of entire fixed asset at one single sheet with features to vividly show the entire presentation of Fixed Assets schedule on a year wise basis comprising off gross block, accumulated depreciation and closing WDV and its sub parts- including location wise segregation and drill down.
5. Embedded Facility to provide Location of Asset and Asset Identification Number / Code – Optional
6. Addition of Fixed Asset Details on or after 01.04.2015 enabled in New Assets Worksheet.
7. Mini Calculator enable to cross verify the depreciation of assets purchased on or after 01.04.2015.
8. Users can directly copy data from the earlier version _and paste the data in the current version. Refer Part B for “HOW TO COPY DATA FROM EARLIER VERSION – for step by step guide”.
9. The worksheet displays the expected date of expiry of assets considering the useful life as specified in Schedule II to Companies Act or on the basis of useful life on user’s own basis, whichever is so selected for the purpose of calculation.
The major features of this free utility includes:
1. Auto calculation of itemized depreciation for New Assets as per Schedule II and subsequent years’ depreciation on itemized assets.
2. Calculation of tentative date of addition for additions made before 31st March 2014.
3. Facility to choose higher or lower useful life of the assets for the old assets as well as new assets w.e.f.1.4.2014 or even in subsequent year (s). In case of such change in useful life a warning message will appear in the respective sheet.
4. Facility to choose higher or lower Residual value of the assets for the old assets as well as new assets w.e.f. 1.4.2014 or even in subsequent year.
5. Calculation of Depreciation and WDV as per Reducing balance method as well as SLM Method in the same sheet.
6. Prior years’ as well as Subsequent years’ depreciation of the itemized old assets.
7. Option for rounding off to desired level and option for acceptable margin of error.
8. Auto Pivot Table for summary of Fixed Assets for old as well as new assets.
9. Auto calculation of itemized depreciation for Transitional period as per Schedule II.
10. Mini Calculator for old as well as new assets giving instant calculation of depreciation including for subsequent years figures.
11.Standalone Calculator for Old Assets at Old Rate showing the year-wise figures of Depreciation, WDV from inception till 31.3.2014 (and also for subsequent yrs at old rate) on WDV as well as SLM.
Instruction Manual for each of the Modules provided therein.
The utility can be downloaded from the below link :-
New Features of Ver 2.1 as released on 16.06.2016-
1. Option given for users to Click on “CLEAR ALL DATA” Button to ease the manner of deleting the dummy data/ all the data of the respective sheet :
2. To be used for New Asset as well as Old Asset (Detailed Calculator Sheet) on a separate basis
3. Fixed Asset Register, option for Auto Filter enabled- Filter ‘Column C’ therein to obtain details of filled up assets only rather than blank fields which were displayed earlier.
4. Refresh Pivot Button enabled on Master Pivot Sheet to enable user to Refresh the Pivot Sheet easily and quickly.
In case of any inconsistency or clarification/ suggestions, kindly contact us
CA Pawan Kumar Agarwal
C/o Madanlal & Associates, Chartered Accountants, Kolkata
Mobile: 9830262464; 9830459297
Do you think CBDT should extend Tax Audit Report and relevant ITR Due Date? Please Comment, Vote, Retweet and Like.— Tax Guru (@taxguru_in) September 18, 2018