Depreciation Rate

40% is applicable

Originally posted by : Soumya
	40% is applicable

 THANKS BROTHER

As per Income tax Act the rate is 60% and As per companies act the rate is 40%...

AS PER INCOME TAX : 60%

AS PER COMPANIES ACT : 40%

REGARDS,

DEVENDRA KULKARNI

Originally posted by : Pinky agarwal
	As per Income tax Act the rate is 60% and As per companies act the rate is 40%...

DEAR PINKY JI

FIRM WAS BEFORE DEC10 IS PROPRITORSHIP FIRM AND DT.01.01.2011 ITS BECOME A PARTNERSHIP FIRM PROP. 

MONTH NOV10 PURCASE 1 LCD 

MONTH DEC10  PURCHASE 1 CANON PRINTER

THE DEP. RATE ? APPLY AS INCOME TAX ACT RATE OR COMPANIES RATE I THINK ITS APPLY 'INCOME TAX ACT' ?

'LCD' DEP @ ?

'CANON PRINTER' DEP @ ?

THANKS TO YOU IN ADVANCE

ARSHAD

THE DEPREIATION ON FIXED ASSETS IS TO BE CHARGED AS PER THE INCOME TAX ACT, 1961.

1) CANON PRINTER - @ 60%

2) LCD - @ 15%

AS BOTH THE FIXED ASSETS ARE PURCHASED AFTER THE FIRST SIX MONTHS THE DEPRECIATION WILL BE CHARGED AT 50% OF THE ORIGINAL RATE (IE. HALF OF 60% = 30% AND HALF OF 15% = 7.5%)

REGARDS,

DEVENDRA KULKARNI

The Rate Of depreciation on Laser jet Prinetr

 As per Income Tax 60% After Six Month 50% of (60%)

 As per Companies Act 40%

& if Your Printer Purchase Amount is Less than or equal to 5000/- then 100% depreciation should be allowed.