Depriciation method change

This query is : Resolved

shruti karuturi (Querist)
Follow

16 May 2008 Our company wants to change the method of depriciation , so what are its after effects...does it have a retrospective effect???...do we need to change the whole set of a/cs??...

CA Hemant T Dewani

CA Hemant T Dewani (Expert)
Follow

16 May 2008 for what purpose you are changing dep from one method to another in the income tax act there is only one method & another in co.law you are paying taxes as per income tax act

shruti karuturi

shruti karuturi (Querist)
Follow

16 May 2008 Mr. Hemant I didn't get ur answer..Can you plz explain it clearly

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
Follow

17 May 2008 The company can change the method of depreciation from WDV method to Straightline method, as long as it provides depreciation as per the minimum rates of depreciation prescribed under the Act. The change in the methodology and its impact on profits and the book value of assets has to be disclosed in the Accounts.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Shubham Jain

Sanjay Ratnani

Anirudh Sharma

6380177036

Chnmaya parhi

Subscribe Now

Depriciation method change

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Accountant

Article Assistant

GST CONSULTANCY

GST CONSULTANT