Whether books is an depreciate asset? If yes rate of depreciation?

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What is the difference between book depreciation and tax depreciation?
Posted by:
Farah Husni
07-May-2014

Auditing taxation

Question added by Jijumon James , SENIOR ACCOUNTANT , BADR AL SAMAA HOSPITAL
Date Posted: 2015/01/10

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by Faisal Khan , Audit Manager , Asad Rasul & Company Chartered Accountant

It depends on the capitalization policy of the organisation. As per IFRS16 any item that has a useful life of more than one year should be capitalized.

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