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Definition of Depreciation
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. The useful life of an asset is the period over which an asset is expected to be available for use by an entity, or the number of production or similar units expected to be obtained from the asset by the entity. For the purpose of this Schedule, the term depreciation includes amortization.
Calculation of Depreciation
Depreciation is Calculated as per the provisions of income tax act for income tax return and companies are calculated as per companies act. So Depreciation is calculated by two method one is as per companies act or one is as per income tax act. Today we provide depreciation chart as per income tax act for easily calculate depreciation.
Provisions of Depreciation As per Companies Act 2013
As per Companies Act 2013 Depreciation calculation is not mandatory But every company is calculated depreciation. So All firms who furnish return of companies (ROC Return) is calculate depreciation as per companies act Click Here to Below Download Link to Download Depreciation Rate Chart and Depreciation Calculator As Per Companies Act 2013
Depreciation Rate Chart as per Schedule II of Co Act 2013Depreciation Calculator – Companies Act 2013 SLM & WDVDepreciation Calculator for WDV method if date of acquisition is missingAdvanced Depreciation Calculation Sheet in Excel FormatDepreciation Calculator as per Companies act 2013 in ExcelDepreciation Rate chart companies act 2013Complete Guide of Depreciation as Per Companies Act 2013Download Depreciation Notes As Per Companies Act 2013
Depreciation rates as per companies act 2013 – Updated
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