banner_ad

depraciation

This query is : Resolved 
Profile Image

Profile Image

(Querist)
26 May 2010 should depn b claimed by a pvt. ltd. co. which is a member of STPI ???????
SHOULD IT CLAIM DEPN. AS PER CO. ACT IN THE BUKS OF A/CS AND CLAIM DEPN. AS PER IT ACT WHILE FILING RETURN OF I.T. MAKING ADJUSTMENTS FOR DEPN. PROVIDED AS PER CO. ACT???????????????????
Profile Image

CA Kishore Tallam

Profile Image

CA Kishore Tallam (Expert)
26 May 2010 As per both Companies act and Income Tax act, claiming of depreciation is mandatory. There is no option given to the assessee. Hence every person has to claim depreciation as per the accounting policy adopted by the company in books of account and as per income tax rates as for determining profit / loss as per Income tax. The profit so arrived at can be claimed as exemption since it is a STPI unit. The impact will come on computing deferred tax. Refer Accounting Standard Interpretation 5 for implications on Deferred tax.. If any other information is required, u can ask..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!




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
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details