Depreciation Calculator

Application of Time Value of Money concept to WDV Depreciation Calculation

Company Law - Depreciation as per written down value method (WDV) has been under the spotlight after the introduction of the Companies Act, 2013. Schedule II of the act mandates to provide depreciation as per useful life of assets using either straight line method or written down value method. This article is on Application of Time Value of […]...

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Depreciation cum Asset Management Utility/Calculator

Company Law - Some Key Features of Depreciation cum Asset Management Utility in Excel Format are as follows:- Line wise SLM and WDV Depreciation, as per Companies Act 2013, Calculation of Depreciation under the Income Tax Act, Ready made Schedules for Balance Sheet and P&L, Calculates Depreciation for any number of Years in the f...

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Automatic Depreciation Calculator as per Income Tax Act, 1961

Company Law - The Calculator is in Excel Format and it helps in Calculating depreciation as per Rates Prescribed under Rule 5 of Income Tax Rules Read with Section 32 of Income Tax Act, 1961. The Calculator is easy to use and determine depreciation rate and depreciation automatically. User have to just input Name of the Assets , […]...

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Advanced Depreciation Calculator as per Companies Act 2013

Company Law - The Companies Act, 2013 requires companies to compute the depreciation in accordance with the Schedule II to the Companies Act which provides useful lives to compute the depreciation. Accordingly, provisions governing charge of depreciation in the erstwhile Schedule XIV to the Companies Act, 1956 have been replaced with Schedule II to the...

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Schedule II of Companies Act, 2013

Company Law - Earlier, the depreciation on fixed assets of companies are regulated by Schedule XIV of Companies Act, 1956 along with Accounting Standard 6 and guidelines issued by ICAI. The positions has been changed from Financial Year 2014-15, which has created curiosities in various professional. The ICAI has issued guidance for clarification of var...

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Fixed Asset Management Tool with Depreciation Calculator for Companies

Company Law - Key Features of Fixed Asset Management Tool with Depreciation Calculator for Companies ♦ Line wise SLM and WDV Depreciation as per Companies Act 2013, ♦ Calculation of Depreciation under the Income Tax Act, ♦ Export of Tax Audit Data for Additions and Deletions during the Year ♦ Monthly Calculation for MIS...

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Depreciation on Weaving Looms Allowed as same was ready for use

Chhatariya Firetech Industries Vs JCIT (ITAT Ahmedabad) - The issue under consideration is whether the depreciation on purchase of New Weaving Looms allowed in case of assessee?...

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Form 62 filing Not Mandatory to allow carry forward of Losses u/s 72A

PCIT Vs M/s. Lotte India Corporation Ltd (Madras High Court) - whether the non-filing of prescribed Form No.62 for the third Assessment Year is restrict the Assessee to carry forward losses under Section 72A of the Income TaxAct, 1961?...

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ITAT allows 60% Depreciation on Computer & Related Software

ACIT Vs Indiabulls Ventures Ltd (ITAT Delhi) - The issue under consideration is whether the depreciation at the rate of 60% will be allowed for computer related software?...

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Depreciation on Wheel loaders & Graders as Motor Vehicles

DCIT Vs Quippo Construction Equipment Ltd. (ITAT Hyderabad) - The issue under consideration is whether the CIT(A) is correct in charging depreciation at the rate of 30% on wheel loaders and graders?...

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Sales Promotion expenses for publicity of brand name allowable

DCIT Vs Mail Today Newspapers Pvt. Ltd (ITAT Delhi) - Whether CIT is correct in allowing expenditure on advertisement & sales promotion of product & brand promotion by considering it as Revenue in nature?...

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Recent Posts in "Depreciation Calculator"

Fixed Asset Management Tool with Depreciation Calculator for Companies

Key Features of Fixed Asset Management Tool with Depreciation Calculator for Companies ♦ Line wise SLM and WDV Depreciation as per Companies Act 2013, ♦ Calculation of Depreciation under the Income Tax Act, ♦ Export of Tax Audit Data for Additions and Deletions during the Year ♦ Monthly Calculation for MIS...

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Posted Under: Company Law |

Free Depreciation Calculator – Schedule II of Companies Act 2013

An Auditor’s Tool on Depreciation Calculation-   Version 3.0 – Compliant to Schedule II of Companies Act 2013  :  Financial Year 2015-16 to FY 2021-22 enabled  – FREE Download  WHAT IS NEW- in this updated Version 3.0 1. Calculation of Depreciation enabled upto Financial Year 2021-22. 2. Consolidated (Summarised) Fixed Ass...

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Depreciation on Weaving Looms Allowed as same was ready for use

Chhatariya Firetech Industries Vs JCIT (ITAT Ahmedabad)

The issue under consideration is whether the depreciation on purchase of New Weaving Looms allowed in case of assessee?...

Read More

Form 62 filing Not Mandatory to allow carry forward of Losses u/s 72A

PCIT Vs M/s. Lotte India Corporation Ltd (Madras High Court)

whether the non-filing of prescribed Form No.62 for the third Assessment Year is restrict the Assessee to carry forward losses under Section 72A of the Income TaxAct, 1961?...

Read More

ITAT allows 60% Depreciation on Computer & Related Software

ACIT Vs Indiabulls Ventures Ltd (ITAT Delhi)

The issue under consideration is whether the depreciation at the rate of 60% will be allowed for computer related software?...

Read More

Depreciation on Wheel loaders & Graders as Motor Vehicles

DCIT Vs Quippo Construction Equipment Ltd. (ITAT Hyderabad)

The issue under consideration is whether the CIT(A) is correct in charging depreciation at the rate of 30% on wheel loaders and graders?...

Read More

Sales Promotion expenses for publicity of brand name allowable

DCIT Vs Mail Today Newspapers Pvt. Ltd (ITAT Delhi)

Whether CIT is correct in allowing expenditure on advertisement & sales promotion of product & brand promotion by considering it as Revenue in nature?...

Read More

ATM is considered as Computer hence Higher Depreciation rate allowed

CIT Vs NCR Corporation Pvt. Ltd. (Karnataka High Court)

High Court states that so long as functions of the computers are performed with other functions and other functions are dependant on the functions of the computer, ATMs are to be treated as computers and are entitled to higher rate of depreciation....

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Depreciation eligible on intangible asset viz., goodwill/ customer list

Rentokil India Pvt. Ltd. Vs DCIT (ITAT Chennai)

The issue under consideration is whether the assessee is correct in claiming depreciation on customer list and goodwill by considering it as intangible asset?...

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Depreciation Calculator | Schedule II | Companies Act 2013

Calculator for Depreciation under Schedule II (upto F.Y. 2020-21) I am sharing with you an exclusive Calculator for working Depreciation on the Property, Plant & Equipment (hereinafter referred to as “PPE”) of the Companies in accordance with the Schedule – II under the Companies Act, 2013. This calculator is updated till F.Y. 2...

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Posted Under: Company Law |

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