03 October 2011
Hi, As per sec 32 of income tax act, depreciation is available on fixed assets as per the rate prescribed in income tax act. Can we claim lower dep than the prescribed rate? Higher us not possible as per law(i know). can we claim lower dep...........?
03 October 2011
you can not be claim the lower rate of Depreciation. if you wants to do that then deprecation deemed to be charged on the full rate of depreciation while calculate the depreciation in next year.
CAclubindia
