Deprecation calculation as per companies act 2013
Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life. The depreciable amount of an asset is the cost of an asset or other amount substituted for cost, less its residual value. The useful life of an asset is the period over which an asset is expected to be available for use by an entity, or the number of production or similar units expected to be obtained from the asset by the entity.
Follow the below steps to enter and calculate the deprecation rate as per companies act 2013
Open the Income Tax software - Go to
→ Formats >Fixed Asset Chart
option given in the menu bar.
Any method WDV or SLM can be used
), an equal amount of
is written off every year. Conversely, in the written down value
Select Assets category and click on detail
Detail of Opening balance (if user have already implemented new deprecation chart last year) and detail of addition (new deprecation chart first time)
Now enter required details
* Original cost of asset
* Useful life (in years)
Click on calculate rate of deprecation
User can enter depreciation rate manual also.
Click On "Working of calculated deprecation"
to check deprecation calculation.
Note : - This
Functionality to calculate rate
-Only if you are implementing new deprecation chart first time. if you have already implemented new deprecation chart last year , you are required to enter same rate of deprecation , that you have to use last year
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