Why is depreciation on the income statement different from the depreciation on the balance sheet?

Depreciation in the income statement tells you how much of the value of your recognized fixed asset has been used up for the current period of operation. While the depreciation in the balanced sheet tells you how much value has been consumed in the entire life of your fixed asset.

Depreciation on the Income statement is for the current year (period) whereas depreciation on balance sheet is the accumulated figure. 

Income statement present depreciation expense for the current period only, whereas the balance sheet shows the net carrying value for the asset less accumulated depreciation up to the closing date