Difference between
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 August 2014
What are difference between depreciation as per income tax act and depreciation as per company Act.
22 August 2014
primarily:
1. rate of depreciation is different
2. method of depreciation is diff: in Companies act SLM and WDV both are permitted, in IT, only WDV is.
3. Usage computation: in companies act, depreciation is based on number of days used. In IT act, the depreciation is based on more than or less than 182 days classification
1. rate of depreciation is different
2. method of depreciation is diff: in Companies act SLM and WDV both are permitted, in IT, only WDV is.
3. Usage computation: in companies act, depreciation is based on number of days used. In IT act, the depreciation is based on more than or less than 182 days classification
09 September 2014
agreed with above reply
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