Depreciation

AS PER INCOME TAX IT IS DIFFERENT AS PER COMPANT ACT IT IS DIFFERENT 

FOR ASSET FOR COMPUTER FOR VECHICLE DIFFERENT RATES 

FOR IT GO THROUGH SECTION 32 

valuation of an asset is an art not a science you would like to have parity between companies act and income tax act? of course your insurance company will not go by your historical cost and depreciation what is stated in your books while settling claim they have their own method  of valuation