Dear All,
In view of recent changes in the Company Act, my Client want to revised the Depreciation according to the Amendment. In case of Non Cotinuous Plant, the Requirement is as under-
As on 01.04.2014, the carrying value of the Asset is Rs. 80
Less Scrap Value of the Asset Rs. 5
Net Value of the Asset as on 01.04.2014 Rs. 75
Remaining useful life as on 01.04.2014 is 10 years
Depreciation Calculation for Double Shift = 75/10*150%=10.50
Depreciation Calculation for Triple Shift = 75/10*200%=14.00
Please guide and suggest how to do this.
Regards,
VS