Depreciation rates and other

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 September 2012 what is the method and rate of depreciation for mobile as per companies act. also what happened if in first year the depreciation rate is wrongly taken.

also deferred tax liability is not shown what is auditor responsibility.

CA AYUSH AGRAWAL

CA AYUSH AGRAWAL (Expert)
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01 September 2012 Can be Taken 18.10%.

Preferable to Take in 18.1 Slab.

and In Second Year Nullify That, Rectify Dep in This Year.

Auditor Can Take That There is No Virtual Certainity of profit, so Deferred Tax Liability Not Provided, & Can be Provide in Next Year.