additional depriciatio
This query is : Resolved
05 July 2010
is there any provision for additional dep in co's act 1956 ?
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.
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.
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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