What method of depreciation calculation is used to calculate the tax liability according to Income Tax Act, 1961?
Submitted by: AdministratorAccording to Income Tax Act, 1961 Written Down Method of depreciation is used to calculate the tax liability. In this method, depreciation is charged at predetermined rate, which is calculated on the balance of cost of asset less amount of depreciation previously charged. The rate at which the depreciation will be calculated is also specified in the Income Tax Act 1961.
Submitted by: Administrator
Submitted by: Administrator
Read Online Depreciation Job Interview Questions And Answers
Top Depreciation Questions
| ☺ | Compare: Depreciation as per Companies Act and Income Tax Act? |
| ☺ | Explain joint factor rate method of calculating depreciation? |
| ☺ | Do you know What is depreciation? What are the causes of depreciation? Is it a cost? Why? |
| ☺ | Explain endowment policy method of calculating depreciation? |
| ☺ | What method of depreciation calculation is used to calculate the tax liability according to Income Tax Act, 1961? |
Top Finance and Accounts Categories
| ☺ | MBA Finance Interview Questions. |
| ☺ | Bank Teller Interview Questions. |
| ☺ | Capital Market Interview Questions. |
| ☺ | Bank Reconciliation Interview Questions. |
| ☺ | Cashier Interview Questions. |
