14 February 2013
Sir, can rates higher than that mentioned in Sec 350 of the Companies Act be provided on assets. what if the management want to provide less rates?
14 February 2013
Relevant provsions of Section 205 is reproduced below -
depreciation shall be provided either—
(a) to the extent specified in section 350; or
(b) in respect of each item of depreciable asset, for such an amount as is arrived at by dividing ninety-five per cent of the original cost thereof to the company by the specified period in respect of such asset.....
CAclubindia
