Income tax department does not differentiate different companies from difference industries for depreciation.
Apr 10 2013 01:09 PM
However in day to day actual company operations the realities of each industry is different and hence merit different depreciation policies. For example the depreciation policy to depreciate a machinery owned by a steel company might be very different from depreciating a computer owned by an IT firm. And it is impossible for the tax department to provide depreciation values for every minute asset. Hence companies make their calls