Depreciation rate for pvt ltd companies

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Querist : Anonymous

Querist : Anonymous (Querist)

18 April 2012

Dear sir

Am jeevan am working in private ltd company.can u tell depreciation rate for asset like computer and laptop and projector etc

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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18 April 2012 As per Companies Act = 40%
As per Income Tax Act = 60%

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Querist : Anonymous

Querist : Anonymous (Querist)

18 April 2012 Thank u but which method wdv slm to calculated

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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18 April 2012 Written Down value Method.

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Querist : Anonymous

Querist : Anonymous (Querist)

18 April 2012

Can u tell me tds rate for 2011-2012

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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18 April 2012 https://www.caclubindia.com/share_files/tds-rate-chart-ay-08-09-to-ay-12-13-43866.asp

Check out the file from above link.

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CA Kishore Tallam

CA Kishore Tallam (Expert)
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18 April 2012 Check out from this link
http://www.simpletaxindia.net/2012/04/tds-rate-chart-fy-2012-13-tcs-rates.html
Also, as per books of accounts, a company have a right to follow WDV method or SLM Method. But as per Income tax, only WDV method has to be followed.
Also, depreciation on projector is 13.91% WDV Basis as per companies act and 15% as per income since it is classified under Office equipment but not under computers.

Tushar Desai

Tushar Desai (Expert)
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18 April 2012 Mr Jeevan,

you need to calculate your Depreciation value as per both the acts i.e., the Companies Act, & the Income Tax Act.

Your Income Tax payable will be counted with Depreciation value as per Income Tax Act.

However, the difference between the two calculations is your Deferred Tax. You need to deduct this Deferred Tax amount & show the final figures in your Annual Report.

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swasti

swasti (Expert)
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18 April 2012 As per Companies Act :
Computers & Laptops WDV 40% / SLM 16.21%
Projectors WDV 13.91% / SLM 4.75%

As per Income Tax Act :
Computers & Laptops 60%
Projectors 15%

Querist : Anonymous

Querist : Anonymous (Querist)

18 April 2012

DEAR SIR

CAN U EXPLIAN TDS CALCULATION PROCEDURE

CA Kishore Tallam

CA Kishore Tallam (Expert)
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18 April 2012 Expenses/Payments other than rent:
As a % on Expense amount including service tax.
Eg: Bill Amount - Rs. 10,000 (194J)
Service tax - Rs. 1,030 (10.3%)
TDS = 11,030 * 10% = Rs. 1,103.
In case of Rent:
TDS = Rs. 10,000 * 10% = Rs. 1,000.

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Querist : Anonymous

Querist : Anonymous (Querist)

18 April 2012

dear sir

Any one can send me balance sheet of april 2011 to march2012 with depreciation calcultaion on asset