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additional depriciatio

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(Querist)
05 July 2010 is there any provision for additional dep in co's act 1956 ?
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CA. Deepak Narula

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CA. Deepak Narula (Expert)
05 July 2010 I don't think so. But the rates given in the comapnies Act are minimum rates and comapny can charge higher depreciation if it wants to.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
05 July 2010 Agree with Deepak.

There are different rates prescribed in the schedule to companies act and for use of assets in shifts.

The schedule prescribes the minimum rates. However the company is free to choose any rate higher than the rates prescribed. However the same should be disclosed in the accounting policies of the company.
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