Depreciation & Companies Act Multi-Shift Engine
Dual computation of statutory WDV depreciation under Section 32 of Income Tax Act vs. Useful Life (SLM/WDV) double/triple shift rates under Schedule II of Companies Act 2013.
SEC 32 & SCH II•Dual-Statute Multi-Shift
All CalculatorsSelect Asset Block:
Asset Block & Statutory Lifetimes
General industrial plant, machinery and equipment (Block rate: 15%)
IT Act Rate15%Sec 32 WDV
Co. Act Life15 YrsSchedule II
Capital Values & Additions
Opening WDV as on April 1
Additions Put to Use ≥ 180 Days100% Rate
Additions Put to Use < 180 Days50% Rate (180-day rule)
Disposals / Sales Realization
Applicable for new plant and machinery installed by manufacturing entities.
Companies Act Multi-Shift Settings
Dual-Statute Comparison
Tax Dep: ₹9,07,500 | Book: ₹4,11,667
Timing difference of ₹4,95,833 generates Deferred Tax Liability (DTL) under Ind AS 12 / AS 22.
Closing Tax WDV
₹53,92,500
Carried forward for next FY
Dual-Statute Depreciation Schedule
| Computational Particulars | Income Tax Act (Sec 32) | Companies Act 2013 (Sch II) |
|---|---|---|
| Governing Statute / Methodology | WDV Block @ 15% | SLM (15 Yrs, 1x) |
| Gross Block / Total Cost of Assets | ₹63,00,000 | ₹65,00,000 |
| Normal / Base Depreciation | ₹9,07,500 | ₹4,11,667 |
| TOTAL STATUTORY DEPRECIATION | ₹9,07,500 | ₹4,11,667 |
| Closing Carrying Value / WDV | ₹53,92,500 | ₹60,88,333 |
FAR & CARO 2020 Statutory Audit
CARO 2020 mandates statutory auditors to verify whether companies maintain proper records showing full particulars of Property, Plant & Equipment (PPE) including physical verification cycles and WDV reconciliation.