DEpriciation

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Guest

Guest (Querist)

27 May 2010 Sir
i am not able to understand the whole concept of Dep .In case of pvt L Co. whether both the Dep as per Income tax & Dep as per co Act will hav to be calculated.And wat are the rates under Co. Act ?bcoz there is diff rates applied in different Co's ?Why this so ?pls provide me with the rate slab also

Guest

Guest (Expert)

27 May 2010 You are correct. For any company one is required to calculate depreciation as per company act and income tax act. It should be adjusted when we calculate taxable income. Depreciation as per company act is added to net profit and as per income tax act, will be subtracted.

There are different rate and rate list is too long to write here. So better check out:
https://lawyersclubindia.com/experts/files/21_depreciation_companies_act.pdf

Rahul Gupta

Rahul Gupta (Expert)

28 May 2010 Agree. Also find here the link of Depreciation rate as per IT Act.

https://kwatraonline.com/OtherpageTheme6.aspx?TYPE=HORIZONTAL&CompanyID=0&PAGENAME=RATES%20OF%20DEPRECIATION_2&Parent=Utilities&Current=Rates%20of%20Depreciation%20Under%20Income%20Tax%20Act

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