banner_ad

As - 22

This query is : Resolved 
Profile Image

Profile Image

(Querist)
11 July 2012 Dear Sirs,

What will happen to a firm where AS 22 does not applies and rates of depriciation is different in case of Companies Act1956 & Income tax act?

In his consolidated Accounts which depriciation to be charged, Companies act rate or rate of depn as per I.T act?

Thanking You.

Sultan
Profile Image

CA Siddhartha Bhardwaj

Profile Image

CA Siddhartha Bhardwaj (Expert)
11 July 2012 Firstly, if it is a FIRM (not a company), then Companies Act is NOT applicable. So depreciation rates as per Comapnies Act are NOT applicable.

The firm should charge depreciation as per Income Tax Act.
Profile Image

C.A Anshul Singhal

Profile Image

C.A Anshul Singhal (Expert)
11 July 2012 yes agree with siddhartha
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
03 May 2026
Senior Chartered Accountant

Nirmal Jain & Co

New Delhi

CA

View Details
Company
ARTICLESHIP 02 May 2026
Accounts and Audit Assistant

Kothawade and Laddha

Thane

B.Com

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
02 May 2026
Experience Audit Manager

AGGARWAL SAMIR & CO

New Delhi

CA Inter

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details