Depreciation.
This query is : Resolved
30 June 2013
Why there is differece in rate of Depreciation as per Company act and Income tax Act
Thax & Regds
Santosh
Why there is differece in rate of Depreciation as per Company act and Income tax Act
Thax & Regds
Santosh
30 June 2013
The very basic purpose behind this difference is that by giving higher benefit in income tax the Govt wants you to invest more in capital infrastructure to save tax and by this way they want to build a chain of capital investment. Thats why additional depreciation is also allowed as per income tax act on purchase of new plant and machinery.
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