Depriciation
This query is : Resolved
22 June 2013
good afternoon sir/ madam ,
here i am requesting you to explin me the depriciation provisions on fixed assets for companies. my doubt is what depriciation to be shown in books i.e dep under companies act or dep under it act and waht will be the asset value to be shown after depriciation .please explain me with examples
regards
sudershan
here i am requesting you to explin me the depriciation provisions on fixed assets for companies. my doubt is what depriciation to be shown in books i.e dep under companies act or dep under it act and waht will be the asset value to be shown after depriciation .please explain me with examples
regards
sudershan
22 June 2013
r/sir
depreciation rates are diff. under company act and income tax act.
under company act depreciation rate are given sechedule XIV section 205 & 350
and under income tax act U/s 32
depreciation rates are diff. under company act and income tax act.
under company act depreciation rate are given sechedule XIV section 205 & 350
and under income tax act U/s 32
22 June 2013
Depreciation calculated as per the Companies Act,1956 is to be shown in books. Like wise, asset value to be shown in the books is the actual cost as reduced by the depreciation calculated as above.
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
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Copyright software
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- Regarding TDS Applicability For Director Remuneration
- FORM 26A APPLICABILITY
- When TDS on GST applied
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
