Companies Act 2013- Depreciation Rate for AY 2020-21 PDF

In simple words, depreciation is a reduction in the value of assets over time, due in particulars to wear and tear.

In technical words, we can say that Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life, where the depreciable amount of an asset is the cost of an asset or other amount substituted for cost, less its residual value.

The useful life of an asset is the period over which an asset is expected to be available for use by an entity, or the number of production or similar units expected to be obtained from the asset by the entity.

Depreciation Rate as Per Companies Act For AY 2020-21 PDF Download

Here is the complete chart of Depreciation Rate as Per Companies Act For AY 2020-21 in PDF format, which shows the rate of depreciation on fixed assets as per Schedule II of The Companies Act 2013.

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Disclaimer: The information contained in the above article are solely for informational purpose after exercising due care. However, it does not constitute professional advice or a formal recommendation. The author does not own any responsibility for any loss or damage caused to any person, directly or indirectly, for any action taken on the basis of the above article.

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Compiled by- CA Chirag Agarwal (Practicing Chartered Accountants)

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