I have read and heard that The rates prescribed under India companies act under 1956 for depriciation are bare minimum rates. One can go for higher rates of depriciation also.

Does any conditions are attached in claming higher rates of deprication ?

Is there any case law or judgement of rules which provides for the resonability of higher depriciation?

If reasonable cause is the condition, how a reasonable cause be defined ?

Other attached conditions/informations in this regard.

Please help me out in respect of this query

U/S 205 & 350 there is defined bare minimum depreciation rate for different assets, my question is if we want to depreciate an asset at more than the rate difined under company's act, how can we do so.

With Best Regards,
Sabir Mulla

In a private company, Can capital a/c be debited for any withdrawl ? Is there any Drawings a/c in a company ? Please answer for both public limited and private limited company ?

Is Bank Closing is a Public Holiday with reference to holding AGM by a Company.

is it necessary for a charitable trust to get itself registered u/s 12AA ,if it proposed to carry out a project u/s 35AC , or will it be right if only its project is approved u/s 35AC

Hi,

Wanted to understand the provisions of companies act for depreciation:

If we have purchased any asset, and it is ready to use, but it is not put to use, whether the depreciation should be charged on the same?

For eg., our company has purchased a licenced software to be used in new product. The software cost will be depreciated in the due course.

The product in which it is to be used is under developement, and not yet ready. Hence, the software can also not be used till the time the product is ready.

In such a situation, what is the depreciation treatement for the software licence cost?

Regards,
Rajen

Hi all,

Can anyone let me know the following query on depriciation:

One of a company is not showing Depriciation for last 3 years whereas it has a fixed asset base of a value of ~ INR 20 lacs.

Although as per Companies Act, Section 205 makes it compulsory to charge depriciation before declaring dividend but as company doesnt declare dividend so this section is not applicable.


1.Is that possible to not charge depriciation on F.A.

2.What is FORENSIC ACCOUNTING

As a foreign co.we need to file form 52 with ROC along with foreign accounts as well as indian accounts...

Our company does not maintained any accounts as compnay income is calculated under deemed profir u/s 44 BB.

Can we file foreign accounts with RBI ?

RBI will accept our Form 52?

KInldy advise

Chetan

What do you mean by the term 'Book Profit' and how it is different from Total Income.

what do you mean by compliance certificate ? According to my knowledge, it is required every year while filing return and may be obtained from ROC.