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What is Depreciation and How is it Calculated

As per Lawkidunya The formula is: Depreciation = 2 * Straight line depreciation percent * book value at the beginning of the accounting period. Book value = Cost of the asset – accumulated depreciation. Accumulated depreciation is the total depreciation of the fixed asset accumulated up to a specified time.

Section 22 ITO Depreciation in Income Tax Ordinance 2001

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