CALCULATION OF DEPRECIATION

in partnership firm u can choose income tax rates which is 60 % on comp,10% f & f. and concept of 180 days is only applied for computation purposes only.

Hi Gaurav. I have seen some of your querries. It will be handy to have a small referencer or an Income Tax ready recckoner, which may be of great help to you. It will give you some ready made answers and you need not have to wait for posting a querry and its answer. Please take this in good spirit. I do't want to hurt you. Jayant Shaligram

Plant & Machinery(Rate = 60%) Computer on Rs. 33500 @ 60% = Rs. 20100 on Rs. 18950 @ 30% = Rs. 5685 Total Rs. 25785 Furniture & Fixture(Rate = 10%) on Rs. 73136 @ 10% = Rs. 7314 on Rs. 7305 @ 5% = Rs. 365 Total = Rs. 7679 Gross Total = Rs.33464

basic tips for calculation of depreciation

show the details of tax calculation

depreciation is calculated on block of assets. the block of assests is made on 31.03 of every financial year. in your question the block of assets will be made on 31.03 and depreciation will be charged on the value of block. There shall be no calculation of 180 days in your question since you hav sold the assets and not purchased any asset after september.