Depreciation as per income tax
This query is : Resolved
15 July 2013
Particulars...........................Rs.
Fixed Assets(WDV) As on 1.4.12
A) As per Companies Act...........5,00,000/-
B) As per IT Act..................7,00,000/-
Rate of Dep as per IT 10% &
Co. Act is 18.10%.
on 1.10.2012 Company dispose off Asset of Rs.
1,00,000 (Scrap value = 10,000)
Please help me to find out WDV as on 31.3.13
As per Income Tax Act and Co. Act.
Query : Shall I Deduct Rs. 1,00,000/- or Rs.10,000/- while calculating Depreciation as per IT???
Please comment.
Fixed Assets(WDV) As on 1.4.12
A) As per Companies Act...........5,00,000/-
B) As per IT Act..................7,00,000/-
Rate of Dep as per IT 10% &
Co. Act is 18.10%.
on 1.10.2012 Company dispose off Asset of Rs.
1,00,000 (Scrap value = 10,000)
Please help me to find out WDV as on 31.3.13
As per Income Tax Act and Co. Act.
Query : Shall I Deduct Rs. 1,00,000/- or Rs.10,000/- while calculating Depreciation as per IT???
Please comment.
15 July 2013
As per income tax- wdv as on 31.03.2013-600000
as per co. act wdv is 500000-(cost of assets-depreciation up to the date of disposal)
as per co. act wdv is 500000-(cost of assets-depreciation up to the date of disposal)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Exiting partner in partnership firm in gst portal
- CLOSING STOCK QUERY
- TDS _Long term Capital Gain ref.sec 214 Table 2
- F&O reporting in ITR
- Residential status of non resident
- CASH GIFT FROM BLOOD RELATIVE
- TDS offline utility
- Due Date Clarity
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
