Escolar Documentos
Profissional Documentos
Cultura Documentos
3/31/2014 3/31/2015
Discription of Date of Net Block as Useful New Already Balance Asset used Deprecia Depreciati Net block
Asset purchase of on life in useful expired days during the tion per on Amount
exsiting 31/03/14/new years life in useful life as year ( In day
asset/date of asset purcahse days on 31/03/14 days
new asset value
purchase
Source- www.taxguru.in
NOTE:
*As per
trational
provision if
balance days
are negative
then Such asset
need to be
written off and
following entry
Entry need to Amount in Rs.
be passed
Profit and loss Amount of WDV/Net block as
account (b/s. on 01-04-2014
item) Dr
To
asset account
Compiled by
CA Niketa Mehta
Source- www.taxguru.in
Schdule II
Description of Asset TABLE
OF USE
FUL
LIFE
I Buildings [NESD]
Building (other than factory buildings) RCC Frame 60
Building (other than factory buildings) other than RCC Frame Structure 30
Factory buildings 30
Fences, wells, tube wells 5
Other (including temporary structure, etc.) 3