Rate of depreciation

Depreciation can be charged under any method whether it is WDV or SLM. There is no restriction under income tax act to charged depreciation only under WDV method.

Plz refer section 32 of income tax act.

For banks there are special rates of depreciation applicable as per RBI guidelines. And Banks are ought to provide such rate of depreciation on computers @ 33.33% on Straight line method only.

Banks have seperate depreciation rates please check with the branch bank about circulars issued by the head office in this regard

thx Sirisha

agreed with shirisha....

I also agrees

Dear,

Charging depreciation as per banking act but, while we calculate income tax on bank earning then we calculate depreciation as per income tax act .

AGREE WITH RAMAN KUMAR

@ Sirisha

can you have the depreciation chart for bank if yes pls, provide the same that will be more use ful for all of us.