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Dep rates for small trader

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(Querist)
20 May 2009 Shoule A small trader (not required under IT rules to compulsorily maintain books of A/cs) also depriciate his Assets at rates prescribed under IT Act while calculating his net income from business?
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CA.Varun Ranjan

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CA.Varun Ranjan (Expert)
20 May 2009 yes he must follow IT rate.
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varun gupta

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varun gupta (Querist)
21 May 2009 Will it be compulsory or he can got some relief as he hardly owns Assets worth Rs 1 lakh?




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