Depriciation calulation
This query is : Resolved
sagar padawale
(Querist)
02 June 2016
Dear All,
I have Depreciation has been charged on remaining useful life of the asset based on the book value as on 1st April 2015 in terms of Schedule II of Companies Act, 2013. i e Rs. 12.48 Lakhs and as per Income tax act i e Rs.13.54 Lakhs.
please let me know Dep as per IT act is more than Companies act
I have Depreciation has been charged on remaining useful life of the asset based on the book value as on 1st April 2015 in terms of Schedule II of Companies Act, 2013. i e Rs. 12.48 Lakhs and as per Income tax act i e Rs.13.54 Lakhs.
please let me know Dep as per IT act is more than Companies act
Rupesh Jain
(Expert)
02 June 2016
15% depreciation under income tax and what rate /life of vehile you are taking, deprecation depend on that.
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