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Computation of Depreciation (Under Income Tax Act, 1961 & companies Act, 2013) (As Amended by Finance Act, 2017)

Computation of Depreciation (Under Income Tax Act, 1961 & companies Act, 2013) (As Amended by Finance Act, 2017)

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Description
This book is a very useful guide for tax payers, Department and professionals, covering detailed discussion on various provisions which need to be considered for the purpose of computing depreciation under Income Tax Act, 1961 as well as under the Companies Act, 2013. It is an attempt to help by explaining the provisions relating to calculation of depreciation in an easy - to - understand language. The Companies Act, 2013 has introduced one of the most important provisions for companies as well as auditors in the form a new method of calculating depreciation  as per Schedule II Part C of the Companies Act 2013. Extensive discussion on the concept of useful life under Companies Act, 2013 vis - a-detailed guidance on important practical issues like residual value etc. I would like to place on record a special note of gratitude to Sh. Ashok Kumar Manchanda, IRS, (1976-Batch) who has been the guiding force for this venture and a constant source of inspiration in my life. I also express my thanks to Commercial Law Publishers(India) Pvt. Ltd. who  reposed confidence in me and published this book. They have done a good job in making this book attractive, acceptable and useful.
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Content
PART A :    DEPRECIATION UNDER THE INCOME-TAX ACT, 1961

Chapter 1:    Introduction
Chapter 2:    Conditions for Grant of Depreciation Allowance Under the
                      Income-Tax Act, 1961
Chapter 3:    Method of Depreciation
Chapter 4:    Depreciation under the Income-Tax Act, 1961
Chapter 5:    Additional Depreciation
Chapter 6:    Depreciation on Leased Assets & Assets taken on hire Purchase
Chapter 7:    Block of Assets
Chapter 8:    Actual Cost
Chapter 9:    Written Down Value
Chapter 10:    Carry Forward & set-off of Unabsorbed Depreciation
Chapter 11:    Rate of Depreciation
Chapter 12:    Important Forms
PART B:    DEPRECIATION UNDER THE COMPANIES ACT, 2013
Chapter 13:    Introduction
Chapter 14:    Differences in method of Depreciation Under the Companies
                        Act, 1956 and Under the Companies Act, 2013
Chapter 15:    Depreciation Under the Companies Act, 2013
Chapter 16:    Extra Shift Depreciation
Chapter 17:    Accounting Standard (AS)-6 Depreciation Accounting
Chapter 18:    Accounting Standards (AS)-10 Accounting for Fixed Assect
Chapter 19:    Accounting Standard (AS)-19 Leases and its Accounting Treatment
Chapter 20:    Accounting Standard (AS)-26 Intangible Assets
Chapter 21:    Accounting Standard (AS)-28 Impairment of Assets
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Author Details
Ram Dutt Sharma
got his post-graduation (M.Sc.) from M.D. University, Rohtak in 1980. He joined the Income-tax Department in the year 1983 and presently working as Income Tax Officer in Faridabad. He worked at various stations of North-West Region of Income Tax Department. He has wide experience of all wings of Income Tax Department such as assessment unit, Special Range, TDS Wing, Investigation Wing, Intelligence and Criminal Investigation etc. He has been contributing articles and addressing on topics relating to Income Tax at Direct Tax, Regional Training Institute, Chandigarh. He has also addressed number of seminars organized by the Income-tax Department, Chartered Accountants, Advocates and various Trade Associations. He is the author of number of books on direct taxes, namely Computation of income from salary under income tax law with tax planning, Computation of income from house property, Formation and Management of Charitable mad Religious Trust, Educational and Medical Institutions under income- tax law, Taxation of Non-Resident Indians under income-tax law etc. which have been highly appreciated by the readers.
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