depreciation rates

Page no : 4

(Guest)

pls send me the depreceation rate asper income tax & companey act both on my Email Adress. Kumodranjan @ rediffmail.com kumodranjan @ live.com kumodranjan_85 @ yahoo.co.in in any of them pls help me regarding this

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Nandita (Chartered Accountant) (34 Points)
Replied 10 September 2008

Originally posted by :Guest
"	Hi find attached Dep Rate as per IT	"

1 Like

BALA83KRISHNAN. K.N (Assistant Manager Accounts) (28 Points)
Replied 12 September 2008

Dear Experts,
Can u mail me the rates of Depreciation as per Companies Act & Income Tax

bala83krishan @ yahoo.co.in

bala83krishan @ gmail.com

Thanks in advance

Regards

Bala.K.N

bhaskar (accountant) (20 Points)
Replied 17 September 2008

Originally posted by :Manish
"	i need depreciation tax rates as per income taxspecially for furniture (detailed)	"

(Guest)

Please provide me the current dep. rates as per co. act as well as it. act

Please do the needful.

Prashant

9969936359

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(Guest)

I want to know the rates of depreciation as per Companies Act and Income Tax Act.

S.Mariadumperumal (Managing Director) (20 Points)
Replied 14 November 2008

Originally posted by :Guest
"	Rate for furniture is 10%. p&m 15% Computers 60% Motor vehicles 15% MV(Commercial) 30% Buildings 5% Buildings (Commercial) 10%	"

(Guest)

Hi experts,

can anyone provide me full depreciation chart (2007-08) to my email id pnmomsai2 @ gmail.com

thanks in advance

Rushabh Vyas (Articled Assistant) (33 Points)
Replied 26 November 2008

According to Income Tax Act,1961 depreciation is calculated for the full six months if the asset is purchased after 1st of october in the respective financial year.

But due to that the expenses of that F.Y. will increase and the net profit will get reduced & that will indirectly reduce our tax liability.

so that will cause a loss to our ITO. Why they have kept such a rule? i feel method of calculating depreciation according to Company's Act is more appropriate.

Reply if anybody knows why such a method is adopted by the Income Tax Act.

(Guest)

Respected Sir,

I want know Rate of depreciation as per
Income Tax Act for FY 2008

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(Guest)

Originally posted by :Guest
"	My co. has purchased hundred nos. of small machines @ Rs. 4400 (Inc. all taxes) each Dt- 01-05-08, now we charge the depreciation @ 100% but i want to know that I have drpreciate this machinery with full amt. at the end of FY 2008-09. Its value become zero as on 31.03.09 as per Co Act.	"

Omkar (Student) (255 Points)
Replied 07 December 2008

Sukhjinder

Better to capitalise the all 100 small machinery to avoid query from department if their life is more than 1 year.

Rushabh,

I understood that depreciation rate will be 50% of appliacble rate if the assets is put to use less than 180 days in that year.So if assets capitalised on 2 oct also,50% of appliacble rate will be applied.

So,6 month concept is not coorect for depreciation calculation.