Is there any amendment in Depreciation calculation for FY 2019 -20
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Amendment Depreciation
Replies (4)
No... No more amendments...
For FY 2018 -19
IT Notification 103/2016 dt. 7 Nov. 2016 :
CBDT amended Income Tax Rules relating to depreciation rates as per Income Tax. New proviso to Rule 5(1) restricts depreciation claim at 40% for Newly set-up domestic manufacturing companies opting corporate tax rate @ 25% u/s 115BA(4), w.e.f. 1 Apr. 2016. However, depreciation rate under Income Tax for other companies has been capped at 40% w.e.f. 1 Apr. 2017.
| Originally posted by : Maitree | ||
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IT Notification 103/2016 dt. 7 Nov. 2016 : CBDT amended Income Tax Rules relating to depreciation rates as per Income Tax. New proviso to Rule 5(1) restricts depreciation claim at 40% for Newly set-up domestic manufacturing companies opting corporate tax rate @ 25% u/s 115BA(4), w.e.f. 1 Apr. 2016. However, depreciation rate under Income Tax for other companies has been capped at 40% w.e.f. 1 Apr. 2017. |
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Yes... I agreed the above said reply...
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