SLM and WDV Depreciation calculator as per Companies Act, and Income Tax Act. Also helpful in managing Fixed Assets.
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Depreciation Calculator for companies Act 2013

Line wise SLM and WDV depreciation calculator as per Companies Act 2013, Blockwise WDV Depreciation Calculator as per Income Tax Act 1961.

Depreciation Calculator for companies Act 2013

Monthly Calculation of Depreciation for MIS Reporting, Jan-Dec Calculation for Group Reporting by MNCs.

Depreciation Calculator for companies Act 2013

Single click change of Financial year and Depreciation Calculation.

Depreciation Calculator for companies Act 2013

Copy/Paste to Migrate data from Old Fixed Asset Records and set the Migration Date.

Depreciation Calculator for companies Act 2013

Export of Tax Audit Data for Additions and Deletions during the Year along with assets put to use for more than 180 days and less than 180 days.

Depreciation Calculator for companies Act 2013

Export of all Fixed asset data in a single sheet to share with other users.

Direct Import of Fixed Assets Additions and Balances from Tally Prime & ERP 9.

Calculation of Profit/loss and Capital gain on Sale of Assets. Calculation of Extra shift Charge.

Customisation of Useful life and Residual value to best estimates.

Ready-made Schedules for Balance Sheet and P&L.

Frequently asked questions

To calculate depreciation, you may be calculating the difference between two dates. Please make sure to increase the difference by “one day”. For example, when calculating the difference between a financial year (01-April-2021 to 31-March-2022), excel gives the answer as 364 days but we know it should be 365 days.

Also, when the difference between two dates is more than one year then the Tool calculates the difference between those dates based on the number of “completed years”. Only the fractional part is calculated based on the number of days.

ICAI guidance note uses a compounding formula to calculate the rate of depreciation as per the WDV method. The tool uses a similar compounding formula to calculate depreciation as per the WDV method, whose example can be seen here. If you don’t use the compounding approach, there will be differences in your calculations and the calculations as per the tool. Also, the asset’s residual value at the end of its useful life will not be accurate if you don’t use the compounding approach.

Depreciation as per Companies Act is the systematic allocation of the depreciable amount of an asset over its useful life. There are four inputs required to calculate depreciation – Useful life, Residual value, Depreciable Amount, Ready to use Date.

Useful life is the period over which an asset is expected to be available for use by an entity. Schedule II to the Companies Act, 2013, specifies useful lives for this purpose. Calculation as per the useful life is true commercial depreciation bringing the financial statements prepared according to international standards.

Users can make calculations of depreciation as per the Companies act based on an asset’s useful life supported by technical advice, even though such lives are higher or lower than those specified in the said schedule.

The Methods of calculation of depreciation as per companies act are:

Straight Line Method – The asset is depreciated equally every year over the asset’s useful life as a percentage of the Initial Cost. Depreciation is calculated for a year and proportionately adjusted if used for less than a year.

Written Down Value Method – The method distributes the asset depreciation unevenly throughout its life. It books higher expenses in the early years as assets have higher productivity and carrying value in earlier years instead of the later years of their lives.

Unit of Production Method – The depreciation on an asset can be provided, where appropriate, based on the units expected to be obtained from the use of the asset. The calculation is based on the output capacity of the asset rather than the number of years.

Customer Reviews

5.00 out of 5 stars

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    5 out of 5

    Ashutosh Garg

    Best tool for Depreciation calculation for companies act and also good for maintaining asset records.

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