Open App

Taxation Exam > Taxation Videos > Fast Track Quick Revision Income Tax > Depreciation

Depreciation Video Lecture | Fast Track Quick Revision Income Tax - Taxation

FAQs on Depreciation Video Lecture - Fast Track Quick Revision Income Tax - Taxation

1. What is depreciation taxation?

Ans. Depreciation taxation refers to the tax treatment of depreciation expenses incurred by businesses when calculating their taxable income. It determines how much of the cost of an asset can be deducted as an expense for tax purposes over its useful life.

2. How is depreciation calculated for tax purposes?

Ans. Depreciation for tax purposes is typically calculated using methods allowed by tax authorities, such as the straight-line method or accelerated methods like double declining balance or sum-of-the-years'-digits. These methods allocate the cost of an asset over its expected useful life to determine the annual depreciation expense.

3. What is the difference between book depreciation and tax depreciation?

Ans. Book depreciation and tax depreciation differ in terms of the depreciation methods used and the rates of depreciation. Book depreciation is based on the company's accounting records and aims to accurately reflect the asset's decline in value over time. Tax depreciation, on the other hand, follows specific rules set by tax authorities to determine the deductible amount for tax purposes.

4. Can I claim depreciation on assets used for personal purposes?

Ans. No, depreciation can only be claimed on assets used for business or investment purposes. Personal assets, such as a personal vehicle or residential property, are not eligible for depreciation deductions.

5. Are there any limits or restrictions on depreciation deductions?

Ans. Yes, there are certain limits and restrictions on depreciation deductions. For example, tax authorities may impose limits on the percentage of depreciation that can be claimed in a given year or set a maximum deduction amount. Additionally, some assets may be subject to specific rules or recapture provisions if they are sold or disposed of before the end of their useful life.

About this Video

4.84/5 Rating

Oct 17, 2025 Last updated

Related Exams

Taxation

Video Description: Depreciation for Taxation 2025 is part of Fast Track Quick Revision Income Tax preparation. The notes and questions for Depreciation have been prepared according to the Taxation exam syllabus. Information about Depreciation covers all important topics for Taxation 2025 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for Depreciation.

Introduction of Depreciation in English is available as part of our Fast Track Quick Revision Income Tax for Taxation & Depreciation in Hindi for Fast Track Quick Revision Income Tax course. Download more important topics related with notes, lectures and mock test series for Taxation Exam by signing up for free.

Description

Video Lecture & Questions for Depreciation Video Lecture | Fast Track Quick Revision Income Tax - Taxation - Taxation full syllabus preparation | Free video for Taxation exam to prepare for Fast Track Quick Revision Income Tax.

Information about Depreciation

Here you can find the meaning of Depreciation defined & explained in the simplest way possible. Besides explaining types of Depreciation theory, EduRev gives you an ample number of questions to practice Depreciation tests, examples and also practice Taxation tests.

	Fast Track Quick Revision Income Tax 24 videos\|28 docs

Fast Track Quick Revision Income Tax

24 videos|28 docs

Join Course for Free

Explore Courses for Taxation exam

study material

MCQs

Extra Questions

mock tests for examination

past year papers

ppt

practice quizzes

Viva Questions

Free

shortcuts and tricks