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Categories >> Accounting >> Taxation
 
 


 

 
 Audit interview questions  Audit Interview Questions (422)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (157)
 Taxation interview questions  Taxation Interview Questions (1893)
 Accounting General interview questions  Accounting General Interview Questions (2781)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4351)
Question
How can I calculate Depriciation on Fixed AND CURRENT 
ASSESTS ?
 Question Submitted By :: 20-7-2008
I also faced this Question!!     Rank Answer Posted By  
 
  Re: How can I calculate Depriciation on Fixed AND CURRENT ASSESTS ?
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
 
  Re: How can I calculate Depriciation on Fixed AND CURRENT ASSESTS ?
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
 
 
 
  Re: How can I calculate Depriciation on Fixed AND CURRENT ASSESTS ?
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
 
  Re: How can I calculate Depriciation on Fixed AND CURRENT ASSESTS ?
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
 

 
 
 
Other Taxation Interview Questions
 
  Question Asked @ Answers
 
What do you mean by Commercial Tax?   1
Can anybody tell me what is Due date to file Form-501 under MVAT to claim refund?   1
Define Amortization & Impairment? OPI-Global 2
what is the mean of payment of contract,subcontract and professional charges   1
what r the differences among GRN, TOT, VAT and other regestration numbers. what is the limit to the turnover according to vat act?Pleas clear my doubt. Satyam 1
pls tell what is TDS CONCEPT IN RELETION TO TRANSPORTOR   4
What can be done incase of excess payment of TDS Remittence than the actual amount? Is there any adjustment towards the excess amount with the upcoming TDS payment?   8
plz tell me Vat Return & Vat Forms   2
Wat is U r stength and weekness   2
Can we deduct WCT TDS on Interstate WORKS CONTRACT , Example, Contractor is in Banglore, he has completed work in Mahrashtra which involved Civil work, Furnitures, fixtures & labour etc, Contractor has raised invoice on service receiver adding 13.50% full CST +4.12% Service charges on Total invoice amount, kindly clarify whether Service receiver is eligible to deduct WCT TDS in Maharashtra on invoice value of the contractor, if yes at what rate ?   2
Can anyone tell me the limit of Professional fees on which service tax is to be charged?   1
i have a bank statements for a xyz company, how did start Bank Reconciliation Statement, what is the concept of BRS and what is the steps to follow up the BRS. can u told how to do brs in Excel easily. please solve my question.   2
 
For more Taxation Interview Questions Click Here 
 
 
 
 
 


   
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