Depriciation

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SAMIR DESAI (Querist)
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26 March 2012 DEar SIr,

If i purchase new AC in my office of Rs. 40000/- as on 26-03-2012 than i got depriciation if yeas than how much

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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26 March 2012 If you are talking of depreciation as per income tax- Depreciation will be 50% of (15% of Rs.40,000)i.e 3000
in case of depreciation as per Companies act- depreciation for 6 days @% as per company's policy but it sgould not be less than rate specified under schedule XIV of companies act.

CA. RAVIKUMAR

CA. RAVIKUMAR (Expert)
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26 March 2012 Agree with expert..... Addition to that As per Companies act depreciation rate for Air conditioner is 13.91%( As Per SCHEDULE XIV of the companies Act minimum rate)