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Depreciation as per Income Tax |
Depreciation as per Companies Act |
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We follow WDV Method |
We can follow either SLM Method Or WDV Method |
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Concept of Block of Assets Depreciation on similar type of assets calculated in one line |
No Concept of Block of Assets Depreciation on all assets in different line
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Concept of 180 days If asset used for 180 days or more, then full depreciation If less than 180 days,then half depreciation |
No Concept of 180 days Depreciation on basis of number of days |
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Sale of Assets if block exist having some value depreciation will be provided on balance value
if block ceases to exist: Short term capital gain or loss will be calculated and no depreciation will be calculated for that year |
Sale of Assets In case Assets sold, depreciation will be computed till the date asset is sold Also Profit or loss on Sale of Asets will also be computed |
