Depreciation

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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.

Amol S Joglekar

Amol S Joglekar (Expert)
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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

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