Depreciation as per mca notification 29,8,2014'
This query is : Resolved
09 September 2015
THE MCA NOTIFICATION DATED 29TH AUGUST 2014 STATES THAT THE NEW DEPRECIATION SYSTEM IS VOLUNTARY FOR THE YEAR 2014-15 AND IS MANDATORY FROM 1ST APRIL 2015 ONWARDS. THIS MEANS OLD SYSTEM OF PROVIDING DEPRECIATION ON RATE BASIS CAN BE OPTIONED FOR THE YEAR 2014-15. IS IT CORRECT
10 September 2015
Your inference is totally not correct. What is not mandatory for 2014-15 is componentisation of assets.But component accounting is mandatory from 01-04-2015. Hope this is clear
G.S.Sarma
G.S.Sarma
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
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Sec 44ada applicable only or both
- RELATED TO TRIBUNAL APPEAL
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- GST Rate for Catering Services
- Taxability of Partnership firm for FY 2025-26
- IS AUDIT MANDATORY IF COMMISSION INCOME IS MORE THAN 50 LAKH
- EMI ISSUE IN HOUSING LOAN OLD REGIME
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
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
