CAREFULLY READ ALL THE INSTRUCTION BEFORE USING THIS SHEET

Note :
1
2
3

To add more assets in sheet : Insert the rows under corresponding group and just copy the formula from previous row (along with Name, DOP etc), change the name of Assets, DOP, Cost, Dep. upto 31.03.2014, etc. Do not
change the formula in sheet
Assets of which life has been expired although depreciation charged till 31.03.2014 was lesser than 95% of Original Cost, difference has to be adjusted with Retained earning. Deferred tax assets has also to be created for same
amount.
Alternatively, you can debit in Profit & Loss account (just like depreciation).
Short depreciation due to expiry of useful life of assets : Same could be adjusted with retained earning. In case adjusted with retained earning, simultaneously provision for deferred tax has also to be created. Deferred Tax Assets
to be created @ 30.90% or 32.445% or 33.99% (depending upon taxable income/loss of the company by crediting Reserve & Surplus A/c (in short Reserve & Surplus A/c should be debited by "Net" amount of "Amount to be
Adjusted and Deferred Tax provision"). In below given case : R&S A/c Dr. 10386/-, Deferred Tax A/c Dr. 4645/- and Fixed Assets A/c Cr. 15031/-. Rate assumed 30.90%. This has to be reviewed yearly and has to be again
adjusted as and when assets is sold or discarded or revalued.

It is highly suggested / recommended that instead of adjusting with retained earning, transfer the same in P/L A/c in the form of depreciation and calculate the deferred tax as usual as earlier.

Assets against which depreciation till 31.03.2014 has been claimed more them 95% of Original Cost of Assets : Excess Depreciation (Already charged) not to be adjusted anywhere (neither from Reserve & Surplus nor from
Current Year Depreciation).

Salvage Value of Assets covered under Note No. 4 will be WDV as on 01.04.2014. Salvage Value not to be maintained @5% of Original Cost for these assets. Law restrict us to keep the salvage value 5% for higher side and not
for lower side.

Date of purchase, Original Cost, WDV, accumulated depreciation are dummy figures, just to explain the working. Do not cross verify the figures for actual depreciation till 31.03.2014 considering details as per sheet and do not
send query for the same.

Be very careful for depreciation in the last year (example : if remaining life year is 2.46 years, in such a case 3rd (third) year for depreciation of that assets, as same has to be calculated as balancing figure of total depreciable
amount under whole life "less" depreciation claimed till the year immediately previous year for which deprecation to be calculated.

10

Calculation sheet is also very effective in those cases in which remaining life of assets is less than 1 year.

11

Use 3rd Sheet for Assets purchased after 31.03.2014

NAME OF THE COMPANY..

DEPRECIATION CHART FOR F. Y. 2014-15
FOR ASSETS EXISTING AS ON 31.03.2014
Date of
Purchase /
Put to use
(A) Land
-

Particular

Land

Original Cost
Dep charged
(Rs)
upto 31.03.2014

WDV as on
01.04.2014

Life as per
Life Used till Remaining
Co. Act,
Salvaged value
31/03/2014
Life
2013

Depreciable
amount over
whole life

Excess Dep.
(Already
charged)

0.00%

Rate of
Dep.

Dep for the

Year 2014-15

Adjusted
with
Retained
Earning

WDV as on 31st
Mar 2015

29,847,589

29,847,589

41,823,746

4,865,265

36,958,481

60.00

2.51

57.49

2,091,187

39,732,559

4.87%

1,801,067

35,157,414

(C) Office Equipments

26-Apr-2011 Air Conditioner
29-May-2011 Fire Extinguisher
15-Oct-2011
Fire Extinguisher
18-Jul-2011
Generator
9-Aug-2011
Lift/Escalators
15-Mar-2009 Panels
27-Nov-2008 Pump/Meters
1-Apr-2011
Transformers
19-Jun-2006
Mobile
20-Aug-2005 Computer
7-Jul-2006
Computer
12-Dec-2011 Computer
19-Mar-2014 Computer

690,800
34,760
46,820
3,218,760
2,284,120
713,864
216,126
557,404
29,374
2,028,420
635,000
100,000
180,000

248,614
12,458
34,257
349,872
434,858
358,478
74,258
212,487
12,874
2,002,710
622,480
68,379
2,560

442,186
22,302
12,563
2,868,888
1,849,262
355,386
141,868
344,917
16,500
25,710
12,520
31,621
177,440

5.00
5.00
5.00
10.00
10.00
10.00
10.00
10.00
5.00
3.00
3.00
3.00
3.00

2.93
2.84
2.46
2.70
2.64
5.05
5.34
3.00
7.79
8.62
7.74
2.30
0.03

2.07
2.16
2.54
7.30
7.36
4.95
4.66
7.00
(2.79)
(5.62)
(4.74)
0.70
2.97

34,540
1,738
2,341
160,938
114,206
35,693
10,806
27,870
1,469
101,421
31,750
5,000
9,000

656,260
33,022
44,479
3,057,822
2,169,914
678,171
205,320
529,534
27,905
1,926,999
603,250
95,000
171,000

75,711
19,230
-

70.85%
69.34%
48.40%
32.62%
31.51%
37.12%
42.47%
30.19%
0.00%
0.00%
0.00%
92.86%
63.39%

313,273
15,463
6,080
935,853
582,764
131,926
60,248
104,131
26,621
112,477

15,031
-

128,913
6,839
6,483
1,933,035
1,266,498
223,460
81,620
240,786
1,469
25,710
12,520
5,000
64,963

(D) Furniture and Fixtures

25-Apr-2011 Electricals Equipments & Fittings
17-Jun-2011
Furniture & Fixtures

2,092,276
3,458,745

942,877
1,348,758

1,149,399
2,109,987

10.00
10.00

2.93
2.79

7.07
7.21

104,614
172,937

1,987,662
3,285,808

28.77%
29.31%

330,638
618,494

818,761
1,491,493

(E) Vehicles
21-Jan-2010
10-Aug-2011

Motor Cycle
Car

72,734
1,413,428

51,868
766,180

20,866
647,248

10.00
8.00

4.19
2.64

5.81
5.36

3,637
70,671

69,097
1,342,757

25.98%
33.85%

5,420
219,106

15,446
428,142

Total Assets

89,443,966

12,409,233

77,034,733

2,979,818

56,616,559

94,941

5,263,561

15,031

71,756,142

(B) Buildings
26-Sep-2011 Building

29,847,589

###

CAREFULLY READ ALL THE INSTRUCTION BEFORE USING THIS SHEET

Note :
1
2
3

To add more assets in sheet : Insert the rows under corresponding group and just copy the formula from previous row (along with Name, DOP etc), change the name of Assets, DOP, Cost, Dep. upto 31.03.2014, etc. Do not
change the formula in sheet
Assets of which life has been expired although depreciation charged till 31.03.2014 was lesser than 95% of Original Cost, difference has to be adjusted with Retained earning. Deferred tax assets has also to be created for same
amount.
Alternatively, you can debit in Profit & Loss account (just like depreciation).
Short depreciation due to expiry of useful life of assets : Same could be adjusted with retained earning. In case adjusted with retained earning, simultaneously provision for deferred tax has also to be created. Deferred Tax Assets
to be created @ 30.90% or 32.445% or 33.99% (depending upon taxable income/loss of the company by crediting Reserve & Surplus A/c (in short Reserve & Surplus A/c should be debited by "Net" amount of "Amount to be
Adjusted and Deferred Tax provision"). In below given case : R&S A/c Dr. 10386/-, Deferred Tax A/c Dr. 4645/- and Fixed Assets A/c Cr. 15031/-. Rate assumed 30.90%. This has to be reviewed yearly and has to be again
adjusted as and when assets is sold or discarded or revalued.

It is highly suggested / recommended that instead of adjusting with retained earning, transfer the same in P/L A/c in the form of depreciation and calculate the deferred tax as usual as earlier.

Assets against which depreciation till 31.03.2014 has been claimed more them 95% of Original Cost of Assets : Excess Depreciation (Already charged) not to be adjusted anywhere (neither from Reserve & Surplus nor from
Current Year Depreciation).

Salvage Value of Assets covered under Note No. 4 will be WDV as on 01.04.2014. Salvage Value not to be maintained @5% of Original Cost for these assets. Law restrict us to keep the salvage value 5% for higher side and not
for lower side.

Date of purchase, Original Cost, WDV, accumulated depreciation are dummy figures, just to explain the working. Do not cross verify the figures for actual depreciation till 31.03.2014 considering details as per sheet and do not
send query for the same.

Be very careful for depreciation in the last year (example : if remaining life year is 2.46 years, in such a case 3rd (third) year for depreciation of that assets, as same has to be calculated as balancing figure of total depreciable
amount under whole life "less" depreciation claimed till the year immediately previous year for which deprecation to be calculated.

10

Calculation sheet is also very effective in those cases in which remaining life of assets is less than 1 year.

11

Use 3rd Sheet for Assets purchased after 31.03.2014

NAME OF THE COMPANY..

DEPRECIATION CHART FOR F. Y. 2014-15
FOR ASSETS EXISTING AS ON 31.03.2014
Date of
Purchase /
Put to use

Particular

Original Cost
Dep charged
(Rs)
upto 31.03.2014

WDV as on
01.04.2014

Life as per
Life Used till Remaining
Co. Act,
Salvaged value
31/03/2014
Life
2013

Depreciable
amount over
whole life

Excess Dep.
(Already
charged)

Rate of
Dep.

Dep for the

Year 2014-15

Adjusted
with
Retained
Earning

WDV as on 31st
Mar 2015

(A) Land
Land

60.00

114.33

(54.33)

0.00%

2,868,888
-

5.00
5.00
5.00
10.00
10.00
10.00
10.00
10.00
5.00
3.00
3.00
3.00

114.33
114.33
114.33
2.70
114.33
114.33
114.33
114.33
114.33
114.33
114.33
114.33

(109.33)
(109.33)
(109.33)
7.30
(104.33)
(104.33)
(104.33)
(104.33)
(109.33)
(111.33)
(111.33)
(111.33)

160,938
-

3,057,822
-

0.00%
0.00%
0.00%
32.62%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%

935,853
-

1,933,035
-

###

(B) Buildings
Building
(C) Office Equipments
Air Conditioner
Fire Extinguisher
Fire Extinguisher
18-Jul-2011
Generator
Lift/Escalators
Panels
Pump/Meters
Transformers
Mobile
Computer
Computer
Computer
(D) Furniture and Fixtures

3,218,760

349,872

Electricals Equipments & Fittings

Furniture & Fixtures

10.00
10.00

114.33
114.33

(104.33)
(104.33)

0.00%
0.00%

Motor Cycle
Car

10.00
8.00

114.33
114.33

(104.33)
(106.33)

0.00%
0.00%

160,938

3,057,822

935,853

1,933,035

(E) Vehicles

Total Assets

3,218,760

349,872

2,868,888

NAME OF THE COMPANY..

DEPRECIATION CHART FOR F. Y. 2014-15
FOR ASSETS PURCHASED AFTER 31.03.2014
Date of
Purchase /
Put to use
(A) Land
-

Life as per
Co. Act, Salvaged value
2013

Depreciable
amount over
whole life

0.00%

60.00

#DIV/0!

42094

#DIV/0!

#DIV/0!

720,000
400,000
-

5.00
5.00
5.00
10.00
10.00
10.00
10.00
10.00
5.00
3.00
3.00
3.00

36,000
20,000
-

684,000
380,000
-

45.07%
45.07%
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!

340
166
42094
42094
42094
42094
42094
42094
42094
42094
42094
42094

302,291
81,994
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!

417,709
318,006
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!

10.00
10.00

#DIV/0!
#DIV/0!

42094
42094

#DIV/0!
#DIV/0!

#DIV/0!
#DIV/0!

Motor Cycle
Car

10.00
8.00

#DIV/0!
#DIV/0!

42094
42094

#DIV/0!
#DIV/0!

#DIV/0!
#DIV/0!

Total Assets

1,120,500

56,000

1,064,000

#DIV/0!

#DIV/0!

Particular

Land

Original Cost
(Rs)
500

Rate of
Dep.

Used during Dep for the

the year
Year 2014-15
-

WDV as on 31st
Mar 2015
500

(B) Buildings
Building
(C) Office Equipments
25-Apr-2014 Air Conditioner
16-Oct-2014 Fire Extinguisher
Fire Extinguisher
Generator
Lift/Escalators
Panels
Pump/Meters
Transformers
Mobile
Computer
Computer
Computer
(D) Furniture and Fixtures
Electricals Equipments & Fittings
Furniture & Fixtures
(E) Vehicles