03-25-2010, 07:46 PM
Owais And LapTop sahab nay Bht achha jawab dia..
Now i would like to conclude the answer as
As Mr lap top said there are methods of depreciation in accounting
and Owais said rates are determent on the basis of internal policies,
for the purpose of tax liability calculation separate rate for depreciation are given by authorities which need to be applied there for difference between TAX AND ACCOUNTING DEPRECIATION arises.
Tax deprication calculated as per Depriciaton Method,rate or useful life specified by Authorities
Accounting deprecation calculated by using method, rate, or useful life determent by management.
Now i would like to conclude the answer as
As Mr lap top said there are methods of depreciation in accounting
and Owais said rates are determent on the basis of internal policies,
for the purpose of tax liability calculation separate rate for depreciation are given by authorities which need to be applied there for difference between TAX AND ACCOUNTING DEPRECIATION arises.
Tax deprication calculated as per Depriciaton Method,rate or useful life specified by Authorities
Accounting deprecation calculated by using method, rate, or useful life determent by management.
