Depreciation
This query is : Resolved
27 September 2014
Dear all,
The new rates of depreciation as per Sch 2 of Companies Act 2013 is applicable for FY 2013-14 or not?
27 September 2014
No its not. Its applicable from Financial Year 2014-15. See General Circular 08/2014 from below link--
https://www.mca.gov.in/Ministry/pdf/General_Circular_8_2014.pdf
https://www.mca.gov.in/Ministry/pdf/General_Circular_8_2014.pdf
27 September 2014
Sir,
what to do in this regard if accounts already prepared as per new schedule and sent to shareholders?
ROI not yet filed & AGM not yet held.
what to do in this regard if accounts already prepared as per new schedule and sent to shareholders?
ROI not yet filed & AGM not yet held.
27 September 2014
What was Auditor doing then?
You may continue with this accounts there should not be any issue.
You may continue with this accounts there should not be any issue.
27 September 2014
I think sir the auditor might have been been confused in this regard. Therefore it was decided to adopt new rates.
What should we do now?
Is there any problem if different rates are charged not according to Companies Act 1956?
What should we do now?
Is there any problem if different rates are charged not according to Companies Act 1956?
27 September 2014
There should not have been any confusion since the circular was issued very early i.e., 4th April 2014.
There should not be any problem if rates as per Companies Act 2013 are adopted.
There should not be any problem if rates as per Companies Act 2013 are adopted.
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