Interested to Buy Any Domain ? << Click Here >> for more details...
assume we have taken a assest on 20/02/2010,then can we
charge depreciation for a whole finacial year?
- 5 Answers
- 7328 Views
- I also Faced
- E-Mail Answers
Answer Posted / h.r. sreepada bhagi
If the business entity is a Company registered under the
Indian Companies Act, 1956, then depreciation is applicable
as per the rates in the Schedule to the said Act. Under this
depreciation is applicable from the date put to use at the
rate applicable.
For Income Tax purpose, Depreciation is applicable at 50% of
the rate applicable to the asset under Income Tax Rate, as
the asset is used for less than 180 days during the year
2009-10.
For easy reference see Income Tax Ready Reckoner, in which
rates under both the Acts are available.
| Is This Answer Correct ? | 3 Yes | 0 No |
Post New Answer View All Answers
What are intangible assets?
What does an internal audit charter contain?
what is audit & activities of auditor?
Explain what are the different functions of internal audit?
can external audit be seen as merely an overhead cost adding no value to the orgnisation
What is the difference between internal audit and statutory audit?
i read in andhra bank recruitmentin that i saw english languages marks are eligible what is that eligible mark
Do you know the different types of audits?
central exices
What are the objectives of internal audit?
Explain about cross functional audits?
What do you mean by vouching?
What Is Social Audit?
What is external audit?
what is the difference you can make by doing your course in the country of your choice
