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Depriciation

This query is : Resolved 
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(Querist)
13 March 2013 Dear all
Please suggest is this compulsory for a company to charge depr. as per companies act rate or a company can charge depr. as per income tax act also.
Please elaborate.
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CA Neha Chauhan

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CA Neha Chauhan (Expert)
13 March 2013 In companies Act, minimum rate is prescribe for depreciation, so use can charge depreciation as per Income Tax Act..for avoidance of complexity...

Regards,
Neha Chauhan
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RAKESH SHARMA

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RAKESH SHARMA (Querist)
15 March 2013 Dear mam,
it means there no consequens of not charging depr. as per companies act.
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CA Neha Chauhan

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CA Neha Chauhan (Expert)
20 March 2013 yes in companies act..minimum rates for depreciation is prescribe....
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RAKESH SHARMA

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RAKESH SHARMA (Querist)
20 March 2013 ok thank u very much mam
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