Compliance Format

Depreciation Schedule Format — Fixed Asset Register

The depreciation schedule tracks each asset block from opening written-down value through additions and depreciation to closing WDV.

DEPRECIATION SCHEDULE — FIXED ASSETS

Computed on the Written Down Value (WDV) method per Schedule II of the Companies Act, 2013 (useful-life basis) and Section 32 of the Income-tax Act, 1961 (block-of-asset basis).

Asset / BlockOpening WDVAdditions during yearRate %Depreciation for yearClosing WDV
Plant & Machinery[8,00,000][2,00,000][15%][1,50,000][8,50,000]
Furniture & Fixtures[1,20,000][–][10%][12,000][1,08,000]
Computers & peripherals[60,000][40,000][40%][32,000][68,000]
Motor vehicles[5,00,000][–][15%][75,000][4,25,000]
[________________][__________][__________][____][__________][__________]
Total[14,80,000][2,40,000]—[2,69,000][14,51,000]

Note: Assets put to use for less than 180 days in the year attract 50% of the normal rate for that year (Income-tax Act). Closing WDV = Opening WDV + Additions − Depreciation for the year.

Compliance note: Companies Act depreciation is based on the useful life prescribed in Schedule II (component-wise), whereas Income-tax depreciation is block-wise at prescribed rates. Maintain both schedules separately as they differ and create deferred tax.

Before you use it — fill in / check

  • Asset / block
  • Opening WDV
  • Additions
  • Rate %
  • Depreciation
  • Closing WDV

How to use this template

  1. Read through and replace every [bracketed] or blank placeholder with your actual details.
  2. Delete any clause that doesn't apply and add anything specific to your situation.
  3. Click Print / Save as PDF to download, or Copy text to paste into your letterhead.
  4. Get it signed / stamped / notarised as required, and keep a copy for your records.

This is a general, editable template for convenience only — not legal advice. For anything material, have a professional review it. TaxClue isn't liable for how it's used.