Depreciation
This query is : Open
25 October 2018
If any Co likes not to calculate depreciation as per Co Act but likes to calculate depreciation as per Income tax act into balance sheet, is it acceptable or not ?
25 October 2018
Hi...
As per Companies Act,
1. you can charge higher rate of depreciation than the act itself.
2. But, if you want to charge lower rate of depreciation then, you need to take technical acceptance.
So, you can go with income tax rates, but you need to consider above two points and comply accordingly.
As per Companies Act,
1. you can charge higher rate of depreciation than the act itself.
2. But, if you want to charge lower rate of depreciation then, you need to take technical acceptance.
So, you can go with income tax rates, but you need to consider above two points and comply accordingly.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Building and other construction workers welfare cess act 1996
- Eway bill for machinery reparing
- Bank Accounts in Balance Sheet for ITR 3
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Gift of mutual fund units to daughter
- Form 10BD Filling
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
