Depreication rates

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Munaga Suman (Querist)
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09 December 2015 IN SLM METHOD A PARTICULAR ASSET HAS 80% DEPRECIATION AS PER INCOME TAX ACT

CAN I CHARGE DEPRECIATION @ 15% P.A. ON SUCH 80% ASSETS

Amol S Joglekar

Amol S Joglekar (Expert)
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09 December 2015 Sorry, not clear about your query....
what is 80%... is it the rate of depreciation as per Income tax Act?

and if it is the rate, for income tax computation you need to go by that rate.

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Munaga Suman

Munaga Suman (Querist)
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09 December 2015 Sir,

We are using a Plant & Machinery having a depreciation rate @ 80% p.a. as per Income Tax act.

We want to provide depreciation @ 15% p.a. in income tax return

can we do so.

early reply may be appreciated

thanks sir

Amol S Joglekar

Amol S Joglekar (Expert)
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09 December 2015 No.
(Even if you do that, for the purpose of income tax computation the depreciation @ 80% shall be deemed to have been charged)

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