02 June 2016
Dear All, I have Depreciation has been charged on remaining useful life of the asset based on the book value as on 1st April 2015 in terms of Schedule II of Companies Act, 2013. i e Rs. 12.48 Lakhs and as per Income tax act i e Rs.13.54 Lakhs. please let me know Dep as per IT act is more than Companies act
CAclubindia
