Abhijeet Deshpande (Co-Founder & Manager @ Tax-Yantra)   (1171 Points)

18 December 2011  

Dear Members,

Require the clarification regarding chargeability of Depreciation as per the companies act.

At one of our client place, the company is following SLM and charging depreciation on Motor vehicle & Motor Bikes owned by them @ 20% p.a. As per the companies act rate is 9.5%. Is chargeing at higher rate a correct treatment??

Thanks in advance