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Depreciation

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(Querist)
04 December 2010 Respected Members

Can anybody pls tell me whether dep. rates prescribed by income tax are mandatory or only recommended?
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
04 December 2010 Yes. it is mandatory. because in IT RETURN, depreciation has been calculated automatically as per the prescribed rate of it act.
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CA CHINTAN AJMERA

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CA CHINTAN AJMERA (Expert)
04 December 2010 Agree With Ca Sanat, it is mandatory
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CA Navin Jain

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CA Navin Jain (Expert)
04 December 2010 yes mandatory, If u not claim the depreciation in a particular year then department would considered that assesse has claim the depreciation in that particular year.
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Richa

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Richa (Querist)
06 December 2010 thanks to all but i jst wanna know whether i calculate dep at a rate which is less than the rate prescribed by I.T. act.

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