depeciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 May 2011
I m senior accountant in manufacturing unit. sole in propriership. Recently the factory have purchased cnc machine ( cost of machine 1.06 Crore) date 23.04.2010 & other assets is value 25 lac and 85 + 30 lac term loan & cc limit but problem is that when we charge dep. @ 15% on assets then accounts book shows hight loss
1. can i charge dep. @ 10% instead of 15%
1. can i charge dep. @ 10% instead of 15%
17 May 2011
DEPRECIATION IS TO BE CHARGED AT A RATE PRESCIBED IN THE ACT
HOWEVER IN A/C U CAN ADOPT ANY RATE AS PER UR CONVENIENCE
CA MANOJ GUPTA
JODHPUR
09828510543
HOWEVER IN A/C U CAN ADOPT ANY RATE AS PER UR CONVENIENCE
CA MANOJ GUPTA
JODHPUR
09828510543
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 August 2012
at the time of scrutiny income tax officer will consider rate of dep. as per my convenience
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