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What else can I help you with?
What is rate of depreciation on battery?
13.91% since tubular batery will be grouped under the block plant and machinery
Depreciation rate for inverter battery under income tax act?
10%
Is depreciation compulsory under companies act?
Yes, depreciation is compulsory under the Companies Act in many jurisdictions, including India. Companies are required to provide for depreciation on their fixed assets in their financial statements to reflect the reduction in value over time. This is essential for accurately representing the company's financial position and ensuring compliance with accounting standards. The specific methods and rates of depreciation are typically prescribed by the respective accounting standards applicable in the jurisdiction.
Do you include depreciation expense on the income statement?
Yes you do, there is no specific area that it must go under allowing companies to charge depreciation based on what categories the assets cone under (cost of sales, admin expenses, distribution expenses). Although if it's not clear, normally admin expenses would be considered the norm.
What is book depreciation mean?
The depreciation rate for accounting may be different than that of taxation. The depreciation as per books of accounts may often be termed as book depreciation while that calculated under tax law is termed as tax depreciation.
Depreciation rate for mobile phone under income tax act?
Depreciation on Mobile Phone will be charged @ 15%.
How do you account difference between depreciation as book and depreciation as tax?
This will be found under "deferred taxes" on the income statement.
What is the depreciation rate induction cooker as per comanies act 1956?
As per the Companies Act of 1956 in India, the depreciation rate for an induction cooker is typically classified under electrical appliances, which generally fall under the category of machinery or equipment. The standard rate for such assets is usually around 15% on the written down value method. However, companies may also refer to the specific guidelines provided in their own depreciation policies, which can vary based on usage and operational conditions. It's important to consult the relevant schedules and provisions for precise application.
Accumulated Depreciation is reported on the income sheet?
no. accumulated depreciation goes under non current asset on the Balance sheet
Which is the best tubular battery for invertors?
1. Tubular batteries last longer for 5 to 15 years under proper maintenance condition.2. Highly reliable compared to normal flat plate batteries.3. The spine of Tubular Batteries are made using High pressure HADI casting method which ensures long life even under heavy temperature and rough usage.4. Perform consistently under any conditions hence suitable for sensitive and heavy applications.5. Faster charging is one the notable feature in Tubular batteries.6. Low maintenance - No need to top-up with distilled water frequently.7. Long Standby life compared to flat pasted plate batteries.8. Recommended for UPS inverters
Does the tenant pay depreciation under a triple net lease?
yes
Should Provision for depreciation comes under current liabilities?
All provisions comes under current liabilities so provision for depreciation is as well because it is made for one fiscal year only.
