Depreciation

  • As per Companies Act
    User defined rates and methods, WDV or SLM Provision of 100% depreciation for assets costing less than Rs. 5000/-. Yearly/half yearly/quarterly/monthly depreciation can be calculated.
  • As per Income-tax Act
    User defined Blocks of assets and rates for each financial year, 50% depreciation for assets used for < 180 days.
  • Retrospective Change
    • in Rate
      When the company decides to change the rate, complete recalculation of depreciation is carried out and report generated.
    • in Method
      When the company decides to change the method from WDV to SLM or vice versa, complete recalculation of depreciation is carried out and report generated.
    • in classification
      When an asset is reclassified, depreciation is re-calculated from the date put to use and any shortfall / excess provision of depreciation is suitably adjusted.
  • Prospective Change
    The rate / method / Category can be changed prospectively without affecting the previous calculations.