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
- 7459 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
i want question papers audit staff selection examination
Define decommission liability?
Explain the difference between internal audit and statutory audit?
hi friend i have selected in ssc cgle as accountant in audit department. can anyone tell about the work of accountant in audit department?
What was your most rewarding accomplishment of your career and why
central exices
What is audit control procedure?
How I can evaluate the internal control audit?
which of the following procedure would auditor lease likely perform in planning a financial statement audit?
What are documents need to vouch while doing sales vauching?
Discuss the factors to be considered by the auditor in order to determine an audit strategy.
for how much loan a borrower has to submit QIS
Explain the difference between internal audit and external audit?
Explain the basic principles of an internal audit controlsystem?
Who will audit an auditing firm?
