Depreciation
This query is : Resolved
prakash r sahane
(Querist)
08 November 2011
Can a proprietory concern charge Depreciation at the rates other than the rates prescribed under the Income-Tax Act 1961 ? Please reply Over pr_sahane@yahoo.com
CA sheekhr
(Expert)
09 November 2011
AS PER I.T ACT I.T RATE SHOULD BE FOLLOWED AND AS PER CO.ACT THERE rate should be followed or it can be increase or decrease as per the assest usage,thats why we calculate deffer tax
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