Depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 July 2013
Dear sir,
If the rate of depreciation as per company law is higher than income tax act then can we show the depreciation as per income tax law in the books of account ?
If we show depreciation as company law our book profit shows lower.
If the rate of depreciation as per company law is higher than income tax act then can we show the depreciation as per income tax law in the books of account ?
If we show depreciation as company law our book profit shows lower.
05 July 2013
u need to compute net profit after adding back depreciation as per companies act and then deducting it as per income tax act to find profit as per income tax act.
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