Depreciation for pvt. ltd. companies

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 August 2012 While preparing final accounts for a Private Ltd Company, do we have any option to opt for the ITax Act Depreciation rates instead of Companies Act, '56 rates?

Guest

Guest (Expert)

01 September 2012 No, Companies are governed by the provisions of Companies Act, 1956 which stipulate depreciation as per schedule XIV.

It is mandatory to provide depreciation as per Schedule XIV.

Regards

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