Depreciation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 April 2012 what is the rate of depreciation below assets f.y.11-12,a.y12-13

1)plant& machinary
2)calibration Equipments
3)car
4)computers&accessories
5)furnitur& fixture

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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17 April 2012 As per Income tax-

1. 15%
2. 15%
3. 15%
4. 60%
5. 10%

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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17 April 2012 As per Companies Act, if WDV is followed, the maximum rates are-

1. 13.91%
2. 13.91%
3. 25.89%
4. 40.00%
5. 18.10%

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CA PRAVEEN SINGH

CA PRAVEEN SINGH (Expert)
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17 April 2012 YES AGREE WITH ABOVE EXPERT.

prateek aanchalia

prateek aanchalia (Expert)
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17 April 2012 agree with above reply..
but in the case of company depreciation rate are disclosed in there depreciation clause under MOA/AOA. so that rate are applicable for company accounting purpose. but for income tax return filing rate of dep. are applicable above given income tax rate.
in company SLM/WDV both method are used for dep. purpose.
any other assessee dep. charged on the basis of IT basis.