• Rate of Depreciation under Income Tax Act Companies Act

    Rate of Depreciation under Income Tax Act Companies Act

    Depreciation Capital allowances are calculated on a straight-line basis Capital allowances claimable in any year are restricted to two-thirds of assessable profits for all companies except companies in the manufacturing and agricultural sectors which are excluded from this restriction

  • Depreciation Rate Chart as per Companies Act 2013 with

    Depreciation Rate Chart as per Companies Act 2013 with

    Nov 18 2019· Depreciation Accounting under the Companies Act 2013 The Companies Act 1956 provided for different minimum rates of depreciation on depreciable assets whereas Schedule II of the Act of 2013 provides for the allocation of depreciable amount of an asset over the useful life of an asset

  • Depreciation Calculation as per Companies Act 2013

    Depreciation Calculation as per Companies Act 2013

    Tags Rates of depreciation for Income-Tax for AY 18-19 or FY 17-18 income tax depreciation rates for ay 2017-18 pdf depreciation rates for ay 2018-19 depreciation rates as per income tax depreciation rate chart how to calculate depreciation as per income tax act depreciation rates on fixed assets depreciation rates as per companies act computer depreciation rate for ay 2018-19 …

  • What is depreciation rate of television for Ay 18-19 - Quora

    What is depreciation rate of television for Ay 18-19 - Quora

    Depreciation under Companies Act 2013 1 SCHEDULE II 2 See section 123 USEFUL LIVES TO COMPUTE DEPRECIATION PART A 1 Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life The depreciable amount of an asset is the cost of an asset or other amount substituted for cost less its residual value

  • A Comparative Study on Depreciation as Per Companies …

    A Comparative Study on Depreciation as Per Companies …

    Apr 19 2010· As per companies act schedule of Depreciation rate I feel there is no specific rate of depreciation given for software What depreciation rate should be taken for accounts prepared for companies act purpose Two views collected so far 1 As applicable to computers subject to duration of licence period 2

  • Depreciation Chart as per Companies Act Basics

    Depreciation Chart as per Companies Act Basics

    RATES OF DEPRECIATION UNDER THE COMPANIES ACT SCHEDULE XIV Sec 205 and 350 Nature of Assets W D V driven by a high speed internal combustion engine capable of propelling the boat at a speed exceeding 24 kilometres per hour in still water and so designed that when running at a speed it will plane i e its bow will rise from the water

  • Depreciation Rates for Financial Year 2019-20 Assessment

    Depreciation Rates for Financial Year 2019-20 Assessment

    Jul 24 2019· Depreciation as per companies act 2013 Depreciation Rate Chart As Per Companies Act 2013 Download Depreciation Rate Chart as per companies act 2013 Latest New Depreciation Rates issued by MCA Ministry of corporate Affairs Depreciation Rate Chart As Per New Companies Act …

  • Depreciation Rate Chart as per Part C of Schedule II of

    Depreciation Rate Chart as per Part C of Schedule II of

    Feb 20 2016· Thanks for A2A Basically the main difference in the calculation of depreciation under Income Tax Act and The Companies Act is that of the methods to be adopted for the purpose of computation Under Income Tax Act 1961 depreciation on assets is g

  • What is the difference between depreciation as per income

    What is the difference between depreciation as per income

    Sep 04 2016· As per companies act 2013 the depreciation is calculated on the basis of useful life of asset Schedule II of companies act 2013 provides for useful life of depreciable assets which can be used to calculate depreciation based on WDV and SLM method Till now we used to calculate the depreciation as per schedule IV of the companies act 1956

  • Depreciation on sofware - Audit Forum

    Depreciation on sofware - Audit Forum

    RATES OF DEPRECIATION AS PER COMPANIES ACT 7 07 - a Plant and machinery not being a ship other than continuous process plant for which no special rate has been - - - - b Continuous process plant for which no special rate has been prescribes under ii below N S E D

  • Depreciation Rates as per the companies Income Tax Act for

    Depreciation Rates as per the companies Income Tax Act for

    Depreciation Rate Chart under Companies Act 2013 for Financial Year 2017-18 and 2018-19 as per SCHEDULE II applicable from 01 04 2014 read with Section 123 which Corresponds to Schedule XIV of the Companies Act 1956 USEFUL LIVES TO COMPUTE DEPRECIATION PART A

  • RATES OF DEPRECIATION UNDER THE INCOME TAX ACT

    RATES OF DEPRECIATION UNDER THE INCOME TAX ACT

    May 21 2013· Rate of Depreciation under Income Tax Act Companies Act Posted on May 21 2013 August 6 2013 by Finhealth One of the basic difference in income tax depreciation calculation and companies act depreciation other than rates of depreciation is method of calculation

  • Apr 11 2015· CA Sandeep Kanoi In this Article we have compiled depreciation rates Under Companies Act 2013 under Written Down Value WDV Method and as per Straight Lime method SLM We have also compiled Changes to Schedule II- Useful Lives to Compute Depreciation read with section 123 of Companies Act 2013 made vide Notification No G S R 237 E Dated 31 03 2014 and …

  • Depreciation rate on computer software - Co Act 2013

    Depreciation rate on computer software - Co Act 2013

    1 There is no need to charge depreciation as per Companies Act You just need to charge depreciation as per Income Tax 2 Yes deferred tax provisions are applicable in case of LLP No you should not compute depreciation as per companies act and income tax act only IT Act Depreciation is required to be charged 3

  • Depreciation as per Companies Act - Chartered Club

    Depreciation as per Companies Act - Chartered Club

    Depreciation Rate Chart as per Part C of Schedule II of The Companies Act 2013 Nature of Assets Useful Life Rate SLM Rate WDV V Furniture and fittings NESD a General furniture and fittings b Furniture and fittings used in hotels restaurants and boarding …

  • Depreciation Rate Chart as per Part C of Schedule II of

    Depreciation Rate Chart as per Part C of Schedule II of

    Provided that where the aggregate actual cost of individual items of plant and machinery costing Rs 5 000 less constitutes more than 10 per cent of the total actual cost of plant and machinery rates of depreciation applicable to such items shall be the rates as specified in Item II of the schedule

  • Nigeria - Corporate deductions

    Nigeria - Corporate deductions

    Rate SLM Rate WDV Nature of Assets Useful Life Depreciation Rate Chart as per Part C of Schedule II of The Companies Act 2013 viii 1 Metal pot line NESD 40 Years 2 38 7 22

  • Depreciation Systems in Nepal A Comparison Based on ETR

    Depreciation Systems in Nepal A Comparison Based on ETR

    Depreciation Chart as per Companies Act 2013 Depreciation under Companies Act 2013 SCHEDULE II See section 123 USEFUL LIVES TO COMPUTE DEPRECIATION PART A 1 Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life

  • RATES OF DEPRECIATION UNDER THE COMPANY ACT

    RATES OF DEPRECIATION UNDER THE COMPANY ACT

    RATES OF DEPRECIATION UNDER THE INCOME TAX ACT APPENDIX I thermal efficiency higher than75 per cent in case of coal fired and 80 per cent in case of oil gas fired boilers 80 tractor and roadroller shall have the meanings respectively as assigned to them in section 2 of the Motor Vehicles Act 1988 59 of 1988

  • Q In case of LLP is there any requirement to charge

    Q In case of LLP is there any requirement to charge

    Best Bet - Most Relevant Search Result Site Page PDF Document

  • Latest Changes in depreciation rule Companies Act 2013

    Latest Changes in depreciation rule Companies Act 2013

    How are Depreciation Rates Calculated In Companies Act Useful life is defined Rates are calculated assuming scrap value of 5 For example For Computer useful life is 3 years Suppose we purchase Computer for 100000 Scrap Value is 5 =5000 Depreciation Charged=100000-5000=95000 Depreciation Charged as per SLM Method is 95000 3=31666 67 Depreciation =31 667

  • Depreciation Rate chart as per companies Act 2013

    Depreciation Rate chart as per companies Act 2013

    Depreciation Systems in Nepal A Comparison Based on ETR Dr Puspa Raj Kandel The administrator after the introduction of Income Tax Act 2002 has claimed that the depreciation rule under the new law is more generous than the depreciation rule of 1992 in …

  • DEPRECIATION CHART - AMD CO

    DEPRECIATION CHART - AMD CO

    on the regulations relating to fixed assets and depreciation in each jurisdiction including sections on the types of tax depreciation applicable depreciation rates tax depreciation lives qualifying and non-qualifying assets availability of immediate deductions for repairs depreciation and calculation methods preferential and enhanced

  • Rates of depreciation for Income-Tax for AY 19-20 or FY

    Rates of depreciation for Income-Tax for AY 19-20 or FY

    Companies Act 1956 specified rates of depreciation in Schedule XIV for SLM as well as WDV Method whereas Companies Act 2013 specifies useful life of various class of assets in Schedule II as a basis to determine the rate of depreciation under SLM WDV or UOP Unit A Comparative Study on Depreciation as Per Companies Act and Income Tax

  • Depreciation Chart as per Companies Act 2013 for FY 18-19

    Depreciation Chart as per Companies Act 2013 for FY 18-19

    Depreciation Table See Rule 5 Rates changed w e f A Y 2018-19 has been shown in red color Block of Assets Depreciation allowance as percentage of written down value Depreciation allowance as percentage of written down value Upto thermal efficiency higher than 75 per cent in case of coal fired and 80 per cent in case of oil gas fired

  • GN A 35 Guidance Note on Accounting for Depreciation in

    GN A 35 Guidance Note on Accounting for Depreciation in

    Calculation of depreciation as per Income Tax Act 1961 the rate of depreciation is 40 calculated on WDV method If you re calculating depreciation as per Companies Act 2013 the methodology prescribed MCA is useful life so to be specific for y

  • Results - SARS

    Results - SARS

    A comprehensive note on the depreciation of fixed asset the meaning of asset definition of depreciation reasons for depreciation of asset element of depreciation etc Skip to content 07060545017 07060545027 info passnownow com depreciation rate that is using the formula

  • RATES OF DEPRECIATION AS PER COMPANIES ACT

    RATES OF DEPRECIATION AS PER COMPANIES ACT

    Depreciation Rates for FY 2019-20 Depreciation Rates for FY 2019-20 It is compulsory to calculate depreciation of assets that are used or acquired in a profession or business This is according to the Income Tax Act 1962 which gives the different rates of depreciation for different classes of assets

  • Depreciation Accounting under the Companies Act 2013

    Depreciation Accounting under the Companies Act 2013

    Depreciation rate is different under WDV SLm under the Companies Act 1956 the rate under Income Tax 1961 India is different These are available online also Just search by typing Depreciation rates or else see Income Tax Ready Reckoner where depreciation rates are available for all assets under both the Acts

  • 2018 Worldwide Capital and Fixed Assets Guide

    2018 Worldwide Capital and Fixed Assets Guide

    The Rate of Depreciation as per Companies Act to be charged on the Assets of a Company as stated in Schedule XIV shall be taken into account while preparing the Balance Sheet and Profit Loss Account P L Account in accordance with Sec 350 and also while providing for dividend under Section 205