Depreciation
This query is : Resolved
28 June 2013
What is the depreciation rate for Mobiles as per companies act ? Also explain why ?
28 June 2013
Mobiles are classified as Plant & Machinery for the purpose of depreciation both under Companies Act and Income Tax Act.
Rate of Depreciation:
As per Companies Act, 1956-
SLM - 4.75% / WDV-13.91%
As per Income Tax Act, 1961- 15%
Rate of Depreciation:
As per Companies Act, 1956-
SLM - 4.75% / WDV-13.91%
As per Income Tax Act, 1961- 15%
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