Is it compulsory to charge depreciation as per companies act
This query is : Resolved
25 June 2014
while maintaining books of accounts is it compulsory to provide depreciation @ rates prescribed in companies act? of we can depreciate it as per Income Tax Act?
25 June 2014
Hi Ashka,
For companies it is compulsory to provide depreciation in books as per rates prescribed in the companies act.
Regards,
Devanand
For companies it is compulsory to provide depreciation in books as per rates prescribed in the companies act.
Regards,
Devanand
26 June 2014
under income tax act and company act depreciation will be compulsory.
under income tax rate are fixed.
but under the company act dep. rate are minimum rate it will charge by you. you can take excess rate of dept. under the company act.
under income tax rate are fixed.
but under the company act dep. rate are minimum rate it will charge by you. you can take excess rate of dept. under the company act.
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