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Hi
we need a help
we have one Scenario where Management need to Calculate the Additional Deprecation on all FA
i.e. is Net Book Value of FA is 100$ as on 31/12/2021 we need to Dep. it NBV by 30% to Bring NBV to 70$
and not 70$ will be Dep. on Monthly basis for the rest of life .
Additional depreciation to be allowed at 20 % of actual cost of new plant and machinery. However, if an asset is acquired and put to use for less than 180 days during the previous year, 50% of additional depreciation shall be allowed in year of acquisition and balance 50% would be allowed in the next year.
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Sir
FA are old also and new also management want to dep. NBV by 50%
If you can guide the steps to calculate additional dep. on FA it will be great help
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