ABCAUS Excel Depreciation Calculator FY 2024-25 under Companies Act 2013 -Download

ABCAUS Excel Depreciation Calculator FY 2024-25 under Companies Act 2013 as per Schedule-II Version 03.21

The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. 

The ABCAUS Depreciation calculator for FY 2024-25 has also been formulated and styled the same way as its predecessor so that users find themselves familiar with it.

This calculator is meant for companies following April to March Financial year. Also the calculator is meant only for tangible assets. Like, in last year useful life of the assets purchased during the FY 2024-25 is taken in integers only.

Any error or suggestions may please be reported by joining ABCAUS WhatsApp Channel only. 

ABCAUS Excel Depreciation Calculator FY 2024-25 under Companies Act 2013

Saving the file to your local computer disk

Please note that while downloading this utility save it as either Excel 97-2003 (xls) or Macro Enabled sheet in Excel 2007 or later versions (.xlsm) Only

How to use this calculator?

The calculator has been divided into five part as under:
(a) Assets
(b) Opening Details
(c) Additions
(d) Opening Deletions, and
(e) Depreciation Chart
In each part only “grey” fields are required to be filled.

Assets

Assets database should be created by providing names of the assets and by selecting the asset type as per schedule-II. Please note that no two names should be identical. If for example there are multiple computers, they should be written in different rows as computer1, computer2…and so on.

Since, you must be having the individual asset-wise list of closing wdv as on 31/03/2024 or the depreciated value of the asset as on 31/03/2014 (for SLM purposes) creating this database should not be a problem.

Please note that new assets purchased during FY 2024-25 should also be filled in this database. Again, please bear in mind that they should also be unique and not bear an identical name to an existing asset.

For example:

You have opening wdv of the block furniture individually for each asset (say, “furniture1”, “furniture2”, “furniture3”) and if during FY 2024-25 there is another addition to the block furniture, then a new nomenclature (say, “furniture4”) should be used in the asset sheet. In the “new addition sheet” this new furniture “Furniture4” is required to be selected for calculating depreciation on new additions.

Opening Balances:

Since the users must be having individual asset wise closing wdv as on 31/03/2024, the details required in the opening sheet should be filled using the wdv list as on 31/03/2023.

For SLM purposes, depreciated book value of the assets should be filled in column B.

In the Opening Work Sheet, the following particulars are required to be given:

• Name of assets > fill the “Asset Sheet” as per closing wdv list of FY 2023-24 and select by drop down
• Depreciated value of asset as on 01/04/2014 (if using SLM)
• WDV as on 01-04-2024 > as per closing wdv list of FY 2023-24. If useful life of the asset was zero as on 01/04/2014 it would be equal to the residual value.
• Remaining useful life > as per useful life as on 01/04/2014 minus three years
• If useful life zero as on 01/04/2014 > Select Yes or No
• If asset has been sold during FY 2024-25 > select Yes or No from drop down
• Estimated residual value > as estimated during FY 2014-15. By default it was taken 5%
• Depreciation Rate > The rate as calculated in FY 2014-15 should be filled
• Rest of the values shall be calculated automatically
• Date of format should be dd/mm/yyyy
• No field should be left blank.

Additions made during the year

• Date of format should be dd/mm/yyyy
• For each new additions, first they should be created in ‘Assets” sheet.
• For new additions made during the year, residual value has been taken @ 5% by default.
• If any disposal has been made out of additions during the year, its details must be filled in columns ‘f” and “g” after selecting “Yes” in column “e”
• Please note that useful lives of assets can be altered from the sheet useful life.

Opening-Deletion

• This sheet accounts for any deletion that has been made out of the opening assets, (i.e.; out of opening sheet)
• Only those assets which have been disposed off during FY 2024-25 should be selected under assets name list.
• If you have selected “yes” against any asset in column “f” in opening sheet, the same asset must be selected here
• Date of format should be dd/mm/yyyy
• Date of purchase of disposed asset should be available as per depreciation chart prepared for FY 2014-15.
• This sheet must be filled after completing the ‘Opening sheet”

Depreciation Chart
It should be automatically calculated.

See Video Tutorial:

The calculator is meant to guide and help in calculating the depreciation, the disclosure requirements have to be separately taken care of.

Also the WDV written off should be charged either to reserves and surplus or profit and loss account.

Similarly, Profit or loss on the disposal of assets should be reflected in profit and loss account.

ABCAUS Excel Depreciation Calculator FY 2024-25 under Companies Act 2013

Please note that by downloading the ABCAUS depreciation calculator, you agree to the terms of use that you do not have permission to modify, copy, edit, upload, reproduce, republish, distribute or transmit the utility except with the written prior approval. 

Download ABCAUS Depreciation Calculator FY 2024-25 Click Here >>

Depreciation Calculators for preceding years are as under:

• Section 43CB & ICDS-III is applicable to contractors not to real estate developers
• Expenses of ESOP are allowable as revenue expenditure u/s 37(1) of Income Tax Act.
• Compliance history of supplier can’t be used to invalidate genuine business transactions of buyer
• Reassessment quashed as AO issued notice u/s 148 instead of 153C as reopening was based on search
• Empanelment of CA/CMA /Legal firm for FEMA & other allied services at EPIL