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Categories >> Accounting >> Taxation
 
 


 

 
 Audit interview questions  Audit Interview Questions (427)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1898)
 Accounting General interview questions  Accounting General Interview Questions (2808)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4359)
Question
How can I calculate Depriciation on Fixed AND CURRENT 
ASSESTS ?
 Question Submitted By :: Taxation
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
Depriciation will be as per company law & as per Income tax
law.

Depreciation to be calculated as follows

(aqusition value * no of days * rate of depriciation) / no
of days in year

01.] Here no of days = total year days-aqusition date
(installation date)
02.] rate of depreciation as per company law
 
Is This Answer Correct ?    28 Yes 1 No
Rajesh S.patil
 
Answer
# 2
at the end of Financial year a assets will avail with the
firm then derpriciation charges allow to the assets.
depriciation is use to intence of the assets. its used to
plance & monchinery depriciation allow maximum to the
machinary. for Ex. Truck is used in Tranport 60 %
depriciation & its used a service to our other busined
Depriciation avail 25% per annum
 
Is This Answer Correct ?    5 Yes 3 No
Rajesh
 
 
 
Answer
# 3
There are two types of depreciation rates one under
companies act and another is under income tax the rates are
different for both the acts

however there is Depreciation for current assettes
 
Is This Answer Correct ?    4 Yes 3 No
Srinivas Rao
 
Answer
# 4
THERE ARE NO DEDUCTIONS OF DEPRICIATION ON CURRENT ASSETS

& FOR FIXED ASSET CERTAIN RULES DECIDED BY IT DEP & INFORCED
BY COMPANIES ACT,FOR DEPRICIATION DEDUCTION
 
Is This Answer Correct ?    4 Yes 3 No
Pawan Kumar
 

 
 
 
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  Question Asked @ Answers
 
current sales tax rate of company in India.   1
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wht do you mean by copmosition of tax   1
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As an accountant what we have to do if purchaser is not paying us form C however we have charged tax at lower rate against form C?   6
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What are the present TDS rates for various transactions in Indai.   4
What are the Different heads of income tax act 1961? tax rate on companies according to current budget? OPI-Global 6
if i am a normal salaried employee and will not come under IT payer slab, if i have received a monitory help of Rs.15lacs from my friend who is staying abroad and it is on returnable basis, how i can show this in my IT remittacnce? is there any taxes i have to pay?. if i am going to payback him every year 1lacs how i have to show this? please suggest me Reg RK   1
 
For more Taxation Interview Questions Click Here 
 
 
 
 
 


   
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