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Answer Posted / s balasubramanian
The depreciation rates are given under Schedule XIV of the
Companies Act for various machinery/equipments for both wdv
and slm for different shifts of working.
Another schedule of rates are given under Income tax act,
which is used for arriving taxable profit.
Any item less than Rs.5,000/- is to be provided 100%
depreciation.
Even any equipment is used for one day, the depreciation is
to be provided.
Depn is a non-cash flow expenditure and it is provided for
wear and tear of the machine. Depreciation amount is added
to net profit after tax to arrive the net cash flows to the
company, which is useful to find out liqudity of the
company.
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