DEAR SIR/MADAM
PLEASE SUGGEST ME HOW MANY % DEPRECIATE ON CANON LESAR JET PRINTER PURCHASE FOR FIRM USE.
THANKS IN ADVANCE
WARM REGARDS
ARSHAD
8 Replies
Muhammad Arshad Ashrafi
(Accountant)
(189 Points)
Replied 15 March 2011
| Originally posted by : Soumya | ||
 |
40% is applicable |
 |
THANKS BROTHER
Pinky Agarwal
(Chartered Accountant)
(426 Points)
Replied 15 March 2011
As per Income tax Act the rate is 60% and As per companies act the rate is 40%...
Devendra
(Chartered Accountant)
(4775 Points)
Replied 15 March 2011
AS PER INCOME TAX : 60%
AS PER COMPANIES ACT : 40%
REGARDS,
DEVENDRA KULKARNI
Muhammad Arshad Ashrafi
(Accountant)
(189 Points)
Replied 15 March 2011
| Originally posted by : Pinky agarwal | ||
|
|
As per Income tax Act the rate is 60% and As per companies act the rate is 40%... |
|
DEAR PINKY JI
FIRM WAS BEFORE DEC10 IS PROPRITORSHIP FIRM AND DT.01.01.2011 ITS BECOME A PARTNERSHIP FIRM PROP.
MONTH NOV10 PURCASE 1 LCD
MONTH DEC10 PURCHASE 1 CANON PRINTER
THE DEP. RATE ? APPLY AS INCOME TAX ACT RATE OR COMPANIES RATE I THINK ITS APPLY 'INCOME TAX ACT' ?
'LCD' DEP @ ?
'CANON PRINTER' DEP @ ?
THANKS TO YOU IN ADVANCE
ARSHAD
Devendra
(Chartered Accountant)
(4775 Points)
Replied 15 March 2011
THE DEPREIATION ON FIXED ASSETS IS TO BE CHARGED AS PER THE INCOME TAX ACT, 1961.
1) CANON PRINTER - @ 60%
2) LCD - @ 15%
AS BOTH THE FIXED ASSETS ARE PURCHASED AFTER THE FIRST SIX MONTHS THE DEPRECIATION WILL BE CHARGED AT 50% OF THE ORIGINAL RATE (IE. HALF OF 60% = 30% AND HALF OF 15% = 7.5%)
REGARDS,
DEVENDRA KULKARNI
(Guest)
| Originally posted by : Devendra | ||
|
|
AS PER INCOME TAX : 60% AS PER COMPANIES ACT : 40% REGARDS, DEVENDRA KULKARNI |
|
PRADEEP CHAND SHARMA
(Accounts Officer)
(141 Points)
Replied 16 March 2011
The Rate Of depreciation on Laser jet Prinetr
As per Income Tax 60% After Six Month 50% of (60%)
As per Companies Act 40%
& if Your Printer Purchase Amount is Less than or equal to 5000/- then 100% depreciation should be allowed.
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