depreciation rate under companies law and under income tax
This query is : Resolved
ajay arora
(Querist)
17 August 2010
what is the difference between depreciation rate under companies law and under income tax rule.
CA Sanat Pyne
(Expert)
17 August 2010
Depreciation rules under the GAAP or other recognized standards (which I'm assuming that the Company Act is based upon) are intended to fairly evaluate the value and profitability of a business.
Depreciation rules under tax laws are intended solely to regulate the amount of tax collected and often bear no rational resemblance to actual value.
Depreciation rules under tax laws are intended solely to regulate the amount of tax collected and often bear no rational resemblance to actual value.
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