We were adopting income Tax Act for calculation of depreciation in last years till 2014.But now since dep rates are revised as per Co Act 2013, is there a need to change the Accounting Method to Co's Act 1956 till 2014 with retrospective effect ?? or can we just take the WDV as on 31.03.14 (which was in accordance with Income Tax Act ) for calculating remaining life Depreciation.
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Depreciation as per co's act 2013
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You take WDV for rmng life..
For more details refer recent article on Depriciation under Sch II of cos act '13
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