Depreciation
This query is : Resolved
07 September 2015
Sir,
When we calculate Depreciation as per Sch 2, we will write off certain assets in opening retained earnings which have crossed their life. We we do this in companies act, what effect should we give in income tax act Depreciation?
When we calculate Depreciation as per Sch 2, we will write off certain assets in opening retained earnings which have crossed their life. We we do this in companies act, what effect should we give in income tax act Depreciation?
07 September 2015
No effect as depreciation is calculated separately for income tax.
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