Depreciation Rate
This query is : Resolved
29 September 2010
Sir
Please tell me the rate of DEP on Printer whether it is 60% or 10%?
Can Dep rates be changed i.e. last yr on some assets 10% provieded but this yr 15% provided.whether such action is right?
Please tell me the rate of DEP on Printer whether it is 60% or 10%?
Can Dep rates be changed i.e. last yr on some assets 10% provieded but this yr 15% provided.whether such action is right?
29 September 2010
Printer can be depreciated @ 60% as per IT Act,1961.
Citation :- Samiran Mujumdar 280 ITR 74 (Cal-Tri).
Changing depreciation rates is possible. The reason for change and the effect in the financial statements under audit has to be quantified and included in the notes on accounts.
Citation :- Samiran Mujumdar 280 ITR 74 (Cal-Tri).
Changing depreciation rates is possible. The reason for change and the effect in the financial statements under audit has to be quantified and included in the notes on accounts.
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