depreciation
Querist : Anonymous
Please tell me if depreciation on fixed assets is claimed at a lower rate. Is there any compulsion for a firm to charge depreciation on the prescribed rates?
Thanks and regards
As per Income tax Act, there is seperate rate mention in the Act. However u have to follow compulsorily WDV method here.
For a firm, you have to charge dep. as per IT Act.
Querist : Anonymous
you charge depreciation or not value of fixed assets reduce as per prescribed rate of income tax,
its better to claim Dep. as per it act.
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