Depreciation rates

ITR 785 views 1 replies

Sales tax Audit & Tax Compliance

255 Points Joined February 2014

There is a Person whose books containes some of the fixed assets and i want to know what rates of depreciation should be charged :

it can be as per Companies Act 1956 or any other provision will be applicable..?\

Experts rply ASAP. Thank You.

Replies (1)

CA Final Article at V.P. Mehta & Co.

83 Points Joined May 2012

Depreciation under Income Tax Act, 1961 (WDV)

=> 1, 2, 4, 5, 6, 7, 8, 10 - 10 percent (Block 4)

=> 3 - 60 percent (Block 10)

=> 9 - 15 percent (Block 5)

Note: No need to charge depreciation under Companies Act, as it is applicable only to companies.

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