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Depreciation

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(Querist)
26 February 2015 Which rate of depreciation is charged on assets in the books of accounts? as per IT act or Cos Act?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
26 February 2015 In books of Companies depreciation is charged as per Companies Act.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
26 February 2015 for general purpose financila statements its always charged as per companies act 2013.

for income tax purpose as per rates mentioned under income tax act,1961
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