Depreciation rate for pvt ltd companies
Querist : Anonymous
Dear sir
Am jeevan am working in private ltd company.can u tell depreciation rate for asset like computer and laptop and projector etc
As per Income Tax Act = 60%
Querist : Anonymous
Querist : Anonymous
Can u tell me tds rate for 2011-2012
Check out the file from above link.
https://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.
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.
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
DEAR SIR
CAN U EXPLIAN TDS CALCULATION PROCEDURE
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.
Querist : Anonymous
dear sir
Any one can send me balance sheet of april 2011 to march2012 with depreciation calcultaion on asset
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