Depreciation
This query is : Resolved
07 March 2020
Can depreciation be charged at rate less than the rate specified in the act?
07 March 2020
Yes under the Companies Act 2013 you can assume the useful life of the asset different from the prescribed one but you have to give management explanation for that
07 March 2020
Depreciation can be claimed at lower rate as per Income tax act,1961. However, for arriving the opening WDV for the next year, depreciation calculated at the prescribed rates will be considered.
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