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Depreciation as per income tax

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(Querist)
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.
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CA UMESH DULAL

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CA UMESH DULAL (Expert)
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)
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