Depreciation
This query is : Resolved
12 November 2011
Dear All,
Please kindly let me know in the Profit and Loss account statement of a company whether we should take the depreciation value as per IT Act or Company Act.
Thanks & Regards,
Don Bosco
Please kindly let me know in the Profit and Loss account statement of a company whether we should take the depreciation value as per IT Act or Company Act.
Thanks & Regards,
Don Bosco
CA Ayush Agarwal
(Expert)
12 November 2011
Depreciation as per Companies Act to be Taken.
since u have to prepare statement as per schedule VI of Companies act.
Generally Big Corporates Keep Books of Account as Per Both Law.
since u have to prepare statement as per schedule VI of Companies act.
Generally Big Corporates Keep Books of Account as Per Both Law.
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