TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Companies Must Recalculate Depreciation Under Companies Act 1956 Due to 1983 Tax Rate Changes: Apply New Formula.</h1> The circular addresses the determination of depreciation under section 205(2)(b) of the Companies Act, 1956, due to changes in income tax depreciation rates introduced by the Finance Act, 1983. Companies using the straight line method must recalculate the 'specified period' for depreciation based on revised rates. The circular provides a formula for calculating fixed depreciation installments: (X-Y)/(B-A), where X is the written down value, Y is 5% of the original cost, A is the number of years already depreciated, and B is the specified period at revised rates. Companies are advised to adjust their depreciation calculations accordingly.
TaxTMI 
TaxTMI 
