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Depreciation

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(Querist)
07 March 2020 Can depreciation be charged at rate less than the rate specified in the act?
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Spurto Consultancy Services

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Spurto Consultancy Services (Expert)
07 March 2020 Yes under the Companies Act 2013 you can assume the useful life of the asset different from the prescribed one but you have to give management explanation for that
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
07 March 2020 Depreciation can be claimed at lower rate as per Income tax act,1961. However, for arriving the opening WDV for the next year, depreciation calculated at the prescribed rates will be considered.
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