If i want to pay less tax,which method of depriciation
should be adopted?
- 4 Answers
- 5946 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Indian Income Tax Act has prescribed the only method of
charging depriciation u/s 32 is written down value method
by combinig assets in to blocks according to their
percentage of depriciation, so this is the method you have
to follow
| Is This Answer Correct ? | 8 Yes | 0 No |
Answer / h.r. sreepada bhagi
As mentioned by Mr.Md.Abdul Qader, There is only one method
of Charging Depreciation, i.e. WDV u/s 32 of the Income Tax
Act, 1961. This applies to block of assets and is calculated
@ full rate prescribed for the assets used for more than 180
days & @50% of the prescribed rate for the assets used for
up to 180 days during the previous year relevant to the
assessment year.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / kodanda rama
FOR COMPANIES, TAXABLE INCOME AND TAX LIABILITY WILL BE
CALUCULATED BY CHARGING THE DEPRECIATION AS PER THE RATE
GIVEN U/S 32 OF INCOME TAX ACT.
ONLY FOR ROC FILLING PURPOSES DEPRECIATION CAN BE CHARGES
AT WDV OR STRAIGHT LINE METHOD.
BUT FOR TAX CALCULATION PURPOSE, WE SHOULD NOT CHARGE
DEPREICIATION AT WDV OR STRAIGHT LINE METHOD.
| Is This Answer Correct ? | 0 Yes | 0 No |
what is diffrant betwwen exice duty & sale tax
What's the meaning of sale of goods in course of import into india?
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?
If a supplier of goods is also a Contractor doing labour work, then is it necessary to collect separate bills one for material & the other for labour? or else tell me what is to be doen?
when an endorsed bill dishonored, for the endorsee, it become the laibility? 1)of the drawee 2)of the drawer 3)of the payee 4)of the indorser
is it necessary to use form38 in UP for purchase of goods from outside UP @5%CST Tax
if a company give salary Rs- 6000 and incentive Rs- 4000 julyy month then TDS will deduct by the company from employee account or not.
What is the difference between the excise duty and the sales tax?
Definitions of paid up capital ,authorized capital ,issued capital ,share capital
What do you mean by an Inter-state Sale. How does it taken Place in a state????
14 Answers ICAI, Jai Ambe Enterprises, Mayur Paints, Subtleweigh Electric,
What is Entertainment Tax?
what is the prime cost? and factory cost how to calculate it?
Audit 
