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Querist : Anonymous

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Querist : Anonymous (Querist)
22 August 2014 What are difference between depreciation as per income tax act and depreciation as per company Act.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
22 August 2014 primarily:

1. rate of depreciation is different

2. method of depreciation is diff: in Companies act SLM and WDV both are permitted, in IT, only WDV is.

3. Usage computation: in companies act, depreciation is based on number of days used. In IT act, the depreciation is based on more than or less than 182 days classification
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
09 September 2014 agreed with above reply




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