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Depreciation

This query is : Resolved 
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(Querist)
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
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CA Navin Jain

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CA Navin Jain (Expert)
12 November 2011 for the book profit take the depreciation value as per co act, and for the computation of taxable profit take the depreciation as per income tax act
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