depreciation for 2009 - 2010

Both income tax & companies act rates are available in share folder

according to income tax act

computer-60%

machinery-15%

furniture-10%

 income tax act

computer-60%

machinery-15%

furniture-10%

Yes...

Depreciation  would be charged as follows :

Machinery : 15 %

Computer : 60 %

Furniture : 10 %

varun, sri vidya and darshu is right

 Hi Kannan

Mr. Varun, Shir Vidya  and Darshu have written exactly  right answer but it is not complite as they have not maintioned the Additional  Depreciation  available to the manufacturing concern against  new plant and machinery. They can claim 20 % extra deprecialtion in first year. It is not  available, if concern have bought any old machinery.

Normaly rate of depreciation as per income tax act

Computer   60%

Furniture   10%\

Plant & Machinery 15%

thanks

Praveen Thakur

Dep. on Fixed Assest having two ways one is under income tax & Companies act.

please see share file.

Regards.

Narendra