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Depriciation

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(Querist)
27 March 2009 Sir,

Pls guide me how should i calculate depriciation on fixed assets as per income rax and as per company act and what amt should i transfer to profit and loss account i.e depriciation as per income tax or as per company act.

pls send me the depriciation chart as per income tax and as per company act.
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
27 March 2009 Yu need to follow companies act while preparing accounts.
Depreciation rates are there in shared files please check.
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Sanjay Soni

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Sanjay Soni (Expert)
28 March 2009 if the person is company then only Companies Act rates apply if its other than company then the rates specified by the specific regulation is to be used. in case of followings the Income Tax Rates should be applied

Individual
HUF
AOP
Firm
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