banner_ad

Depreciation accounting

This query is : Resolved 
Profile Image

Profile Image

(Querist)
12 July 2013 I want to know whether while preparing financial statements according to companies act,we could apply WDV method & calculate depreciation as per block concept in IT ACT?We will give a note regarding this in the notes to accounts.
Profile Image

CS,CA F,Numrologi TusharSampat

Profile Image

CS,CA F,Numrologi TusharSampat (Expert)
12 July 2013 For companies act u have to prepare as strictly as per co act.u cannot use concept of income tax act for preparing books for general purpose financianl statements.

it would tantamount to violation of companies act.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details