Depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 October 2015
1. whether companies mandatory to charge depreciation as per companies act,
2.can Companies charged depreciation in books as per income tax act.
2.can Companies charged depreciation in books as per income tax act.
12 October 2015
01. For Companies, it is mandatory to charge depreciation as per Companies Act
02. It is NOT advisable to charge depreciation as per income tax act, in the companies books of account. In computation sheet, prepared for income tax purpose, deduct the depreciation as per income tax act by adding back the depreciation as per companies act
02. It is NOT advisable to charge depreciation as per income tax act, in the companies books of account. In computation sheet, prepared for income tax purpose, deduct the depreciation as per income tax act by adding back the depreciation as per companies act
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