Depreciation calculation for income tax purpose

Depreciation is a positive decline in the real value of tangible assets due to consumption, wear and tear or obsolescence. It's used all over the world to write off an asset used for business purpose over its life time and charge it to the profits of the business as it is used there. Two methods of depreciation are used; Straight line method Written down value method … [Read more...] about Income tax depreciation – Section 32 of Income Tax Act