Computer's depriciation

1. Yes

2. 60%

3. Under Indirect expenses

4. Under Fixed Asstets

1. you cannot claim depreciation as per IT 

3. depreciation will be grouped under indirect expenses

4. computers will be grouped under fixed assets

1.Yes, u can claim depreciation for F.Y. 2010-11 @ 60% as per Income Tax Act 1961

2. In subsequent years also u can claim dep. @ 60% on W.D.V.

3. Depreciation ledger must be grouped under Indirect Exps.

4. Computer should be grouped under Fixed Assets.

Thanks Rajesh & Neeraj,

Point#2: For 2011-12 (year ended on 31-March-2012), I will calculate depriciation @ 60%.  But to be more clear, please illustrate the figure for First Purchase Value of Computer @ 21000=00 purchased on 01-September-2010.
Lastly till what value (of the assets, here computer), I "should" claim depriciation & then stop claiming depriciation?

Thanks

You can claim depreciation @ 60% for the F.Y. 2010-11.

Purchase value 21000

Less Depreciation for the FY 2010-11 @ 60% = 12600

Book value as on 01.04.2011 : Rs. 8400

Less: Depreciation for the FY 2011-12 = 60% of Rs. 8400 = 5040/-

You are following written down value method of calculating depreciation i guess.

So these figures would suffice.

Regards

Prateek 

Prateek,

Yes I am following written down value method of calculating depreciation.

Please answer my last para: Lastly till what value (of the assets, here computer), I "should" claim depriciation & then stop claiming depriciation?

Thanks

How to download online TDS Certificates in Form No. 16A. F/y 2011-12 last date of TDS Return is 15/5/12, if I file the same by 31st May? Please advice

Use your TAN registration details, log in to your Account and then select Download Form 16A.

After you have filed your TDS Return, wait for a few days, then download your Form 16A's