banner_ad

Depreciation

Accounting Entries 268 views 2 replies

Dear all,

1. I am calculating depreciation to find out the profit for the year 2018-19. Should i go by IT calculation or i should calculate based on the days of the assets put to use?

2. what is the percent of depreciation calculated for stabilizers?

Looking forwards for your inputs. Thank you.

 

Regards,

 

J Nethra

Replies (2)
1. Depreciation calculated based on two acts as i). Companies Act ii) Income Tax Act.
You can provide which one applicable to You.

2. As per IT act You can depreciate @ 10%
while calculating depreciation as per normal accounting rules then and company act us applicable then calculate depreciation as per rates specified under the act to arrive at the profit.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details