Accountants | Rajput Jain & Associates

Depreciation Rate Chart (Income-tax Act, 1961)

Depreciation Rate Chart (Income-tax Act, 1961) (As shown in the above applicable from FY 2025-26 onwards on WDV basis) Asset / Block Depreciation Rate Residential Building 5% Other Buildings 10% Temporary Wooden Structures 40% Furniture & Fittings 10% General Plant & Machinery 15% Motor Cars 15% Motor Buses, Lorries & Taxis Used on Hire 30% …

Accountants

Emerging TDS Sec 194T Compliance Risks for Partnership Firm

Key Tax Deducted at Source Compliance Issues under Section 194T Section 194T significantly increases compliance rigor by imposing gross-based, real-time Tax Deducted at Source obligations, creating structural mismatches with income computation provisions and requiring robust internal controls to mitigate litigation and financial exposure. Mandatory Tax Deducted at Source 10% on payments by a partnership firm …

Accountants

Overview on Golden Rules Of Accounting

Overview on Golden Rules Of Accounting — Made Simple! Golden Rules of Accounting These rules guide which account to debit and credit, based on the account type: Account Type Rule Example Personal Debit the Receiver, Credit the Giver Paid ₹5,000 to supplier → Dr Supplier, Cr Cash Real Debit What Comes In, Credit What Goes …

Accountants

APPLICABILITY OF INDIAN ACCOUNTING STANDARD

Coming months will going to be much more busy than usual for all of us. Especially in some areas like applicability of ICDS, penalty levy on IT returns late filing and IndAS applicability in certain cases. IndAS continuous implementation creating more challenging or difficulties for the companies in following annual compliance accurately especially the compliances …