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Depreciation fund

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(Querist)
14 February 2011 Dear Experts,
Can anyone please give details about depreciation fund and what is its treatment in books of a/cs

Thanks in advance
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
14 February 2011 Depreciation fund is created, where assets to be replaced after useful life.

There is no effect on taxation due to creation of depreciation fund, since depreciation is charged under IT as per rate u/s 32.

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