Depreciation accounting
This query is : Resolved
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.
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.
it would tantamount to violation of companies act.
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