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?

View Answer
  1. Accounts and Finance
  2. Step 4 Balance Sheet Finalization Procedure

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CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.