Accounts
This query is : Resolved
01 January 2018
do you want to know accounting entry ?
01 January 2018
Depreciation is the evaluation of the wear and tear of capital goods. It is an
allowance as per the Income tax act,1961 to be deductible while computing
taxable income. Generally, it is recognized in the books of accounts by way
of a journal entry by debiting depreciation a/c and crediting the respective
asset a/c.
allowance as per the Income tax act,1961 to be deductible while computing
taxable income. Generally, it is recognized in the books of accounts by way
of a journal entry by debiting depreciation a/c and crediting the respective
asset a/c.
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