Fixed Assets Depreciation Rats ?
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Answer / h.r. sreepada bhagi
Rates & method of Depreciation are different under the
Companies Act & the Income Tax in India. For rates &
guidelines Refer the Companies Act (Depreciation Schedule) &
the Income Tax Act. Or refer teh latest Income Tax Ready
Reckoner, where rates under both the Acts are available.
Rates are also available on the Internet/websites of Income
Tax Department / Department of Company Affairs.
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Answer / raheem ps
Rates & method of Depreciation are different under the
Companies Act & the Income Tax in India. For rates &
guidelines Refer the Companies Act (Depreciation Schedule) &
the Income Tax Act. Or refer teh latest Income Tax Ready
Reckoner, where rates under both the Acts are available.
Rates are also available on the Internet/websites of Income
Tax Department / Department of Company Affairs.
i may guess that the above mentioned is correct coz., the rate of percentage has to be imposed by the national r central tax authority and has been vary from year to year.hence, there is no permanent fixed % for it
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Answer / prabha
Fixed assets depriciation prescribed by the company law
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