Rate of depreciation under companies act
This query is : Resolved
19 September 2016
Respected Experts, Please help me to know that what is the Rate of depreciation for computer & furniture for AY-2016-17 under companies act.
20 September 2016
Under the Companies Act, there is no standard rate of Depreciation. It is based on the balance useful life of the assets. For example,If your asset has still 430 days balance useful life, then your rate of dep will be Net book value of the aseet/balance useful life.
The general useful life for Furniture as per CA ACT is 10 years,for computer devices like desktop,laptop, 3 years, servers it is 6 years.. So calculate accordingly.
The general useful life for Furniture as per CA ACT is 10 years,for computer devices like desktop,laptop, 3 years, servers it is 6 years.. So calculate accordingly.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- Grand in aid
- ASMT-10 received from A O
- IT returns for fresh job holders
- ITR-Capital Gain
- Traces submitting correction statement error
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Residential status of non resident
- CASH GIFT FROM BLOOD RELATIVE
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- Rent claimed on building given on permissive possession basis
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
