• Line wise SLM and WDV Depreciation Calculator as per Schedule II of Companies Act 2013,
  • Calculation of Depreciation under the Income Tax Act.
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Key Features of Depreciation Calculator as per Companies Act 2013

Depreciation Calculator for companies Act 2013

Companies Act 2013 – Line wise SLM and WDV Depreciation Calculator, Income Tax Act 1961 – Blockwise WDV Depreciation Calculator.

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.

 

SLM & WDV Depreciation Rates as per Companies Act 2013 / IndAS / AS

 

Class of Asset Sub Class of Asset Useful Life SLM Rate WDV Rate
Buildings Non Factory Buildings – RCC 60 1.58% 4.87%
Buildings Non Factory Buildings – Non RCC 30 3.17% 9.5%
Buildings Factory Buildings 30 3.17% 9.5%
Buildings Wells & Tube wells 5 19% 45.07%
Buildings Fences 5 19% 45.07%
Buildings Carpeted Roads – RCC 10 9.5% 25.89%
Buildings Carpeted Roads – Non RCC 5 19% 45.07%
Buildings Non Carpeted Roads 3 31.67% 63.16%
Buildings Bridges, Culverts, Bunkers, etc. 30 3.17% 9.5%
Buildings Temporary structure 3 31.67% 63.16%
Buildings Others 3 31.67% 63.16%
Furniture and Fittings Furniture and Fittings 10 9.5% 25.89%
Furniture and Fittings Furniture and Fittings used in hotels, theatres, schools etc. 8 11.88% 31.23%
Electrical Installations Electrical Installations 10 9.5% 25.89%
Office Equipments Office Equipments 5 19% 45.07%
Computers Laptop 3 31.67% 63.16%
Computers Desktop 3 31.67% 63.16%
Computers End User Device 3 31.67% 63.16%
Computers Software – which is integral part of system 3 31.67% 63.16%
Computers Network Devices 6 15.83% 39.3%
Computers Server 6 15.83% 39.3%
Plant and Machinery Plant and Machinery 15 6.33% 18.1%
Plant and Machinery Continuous Process Plant 25 3.8% 11.29%
Vehicles Motor Cycles – Two Wheelers 10 9.5% 25.89%
Vehicles Motor Cars 8 11.88% 31.23%
Vehicles Motor Lorries 8 11.88% 31.23%
Vehicles Motor Buses 8 11.88% 31.23%
Vehicles Motor Cars used in a business of hire 6 15.83% 39.3%
Vehicles Motor tractors, harvesting combines and heavy vehicles 8 11.88% 31.23%
Vehicles Electrically operated vehicles 8 11.88% 31.23%
Vehicles Aircrafts or Helicopters 20 4.75% 13.91%
Vehicles Locomotives tramways and railway used by concerns 15 6.33% 18.1%
Vehicles Ropeway structures 15 6.33% 18.1%
Land Freehold Land NA NA NA
Land Leasehold Land NA NA NA
Leasehold Improvements Leasehold Improvement NA NA NA
Intangible Asset Software 10 10% 36.9%
Intangible Asset Know-How 10 10% 36.9%
Intangible Asset Patent 10 10% 36.9%
Intangible Asset Copyright 10 10% 36.9%
Intangible Asset License 10 10% 36.9%
Intangible Asset Goodwill 10 10% 36.9%

Knowledge Base

Depreciation 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.

Companies can make calculations 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 available 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.  

How to accurately calculate Depreciation on Fixed Assets?

ICAI Guidance Note on Depreciation Accounting in India

 


 

 

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