Depreciation


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
12 January 2012 i don’t know how to calculate the depreciation under companies act and income tax act and also give me information depreciation percentage both act

12 January 2012 In companies act depreciation is calculated based on no. of days whereas in case of Income Tax act the same is calculated based on whether used for more than 180 days or less. If used for less than 180 days then depreciation to be charged at half the rate.

For rates visit rrfalod.com utilites rates of depreciation under companies act and income tax act.

12 January 2012 In companies act depreciation is calculated based on no. of days whereas in case of Income Tax act the same is calculated based on whether used for more than 180 days or less. If used for less than 180 days then depreciation to be charged at half the rate.

For rates visit rrfalod.com utilites rates of depreciation under companies act and income tax act.

Profile Image

Guest

Profile Image

Guest (Expert)
12 January 2012 Also in companies act when asset is sold during the year then depreciation can be claimed for number of days for which the asset has been used.

While in Income Tax Act, depreciation is not allowed even if the asset is sold on last day i.e. 31st march.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
13 January 2012 Thanks for your prompt reply .


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
25 August 2026
Senior Accountant

MG Associates

New Delhi

CA Inter

View Details
Company
21 August 2026
Finance Manager

Resollect Technologies Pvt Ltd

Mumbai

CA

View Details
Company
ARTICLESHIP 26 August 2026
Article Assistant

ANIVESH CONSULTANTS LLP

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 24 August 2026
Chartered Accountant Articles

Rohit KC Jain & Co

New Delhi

CA Inter

View Details
Company
11 August 2026
Manager / Senior Manager - Statutory Audit

CommerceCareer

New Delhi

CA

View Details
Company
28 August 2026
Audit Manager

K A R M & CO

Mumbai

CMA

View Details
Company
04 September 2026
CA inter Or ca finalist

A Jaiswal and company

Lucknow

CA Final

View Details