Depreciation area is basically used for different reporting requirements. as per different laws, depreciation may be calculated differently. lets take an example. In India, a company needs to calculate depreciation as per Companies Act and as per Income tax Act. the basis of calculation is differen...
You may be eligible for this tax credit if you are • age 18 or older as of the close of the taxable year, • not a dependent of another taxpayer, and • not a full-time student. The credit is based upon your income (see chart below), and will range from 0 to 50 percent ...