Depreciation
This query is : Resolved
23 April 2008
Dear Sir
Please can u let me know what is the Fixed Assets depreciation rate as per Companies act.
Naveen.
Please can u let me know what is the Fixed Assets depreciation rate as per Companies act.
Naveen.
23 April 2008
Dear Sir
Please can u let me know what is the Fixed Assets depreciation rate as per Companies act.
Naveen
Please can u let me know what is the Fixed Assets depreciation rate as per Companies act.
Naveen
23 April 2008
https://www.fams-software.com/Resources/DepCoAct.rtf
Plz check above link
**DM
Plz check above link
**DM
23 April 2008
Thank Youuuuuuuuuuuu
24 April 2008
Already answered
:-)
:-)
25 April 2008
Dear Sir
From When The depreciation is Calculated i.e as on when it is purchased or as on when it is put in Use
And What is the Depreciation rate for Photocopying Machine as per IT Act and As per Companied Act.
Naveen.
From When The depreciation is Calculated i.e as on when it is purchased or as on when it is put in Use
And What is the Depreciation rate for Photocopying Machine as per IT Act and As per Companied Act.
Naveen.
26 April 2008
If you have some proof that from when you have started using the asset then definitely it will be the date when it is put to use but in maximum cases because it is not possible to find out the put to use date, assessees are applying the date of purchase/ delivery note date.
You have to use Company's Act rates is your concern is a company whether a pvt ltd or a ltd., but if you have another type of concerns like proprietorship then you may opt for any one consistently.
But for the purpose of income tax return, you have to re-calculate your profit and loss using depreciation rates as per Income Tax Act.
You have to use Company's Act rates is your concern is a company whether a pvt ltd or a ltd., but if you have another type of concerns like proprietorship then you may opt for any one consistently.
But for the purpose of income tax return, you have to re-calculate your profit and loss using depreciation rates as per Income Tax Act.
28 April 2008
THANK YOU
28 April 2008
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