Q1
Asset Value 100000
Depreciation Rate
Income Tax Act 15%
Companies Act 10%
(a)
Calculate Depreciation for next 40 years using WDV Method
(b)
Which Depreciation Amount is more, as per Companies Act or Income Tax Act ?
(c)
Assume Profit every year to be 50 lacs.What is Taxable Profit and Tax?
(d)
What is tax benefit every year because of difference in dep?