banner_ad

Rate of depreciation

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
24 September 2011 whether company can used depreciation rate as per income tax act in place of companies act in statutury audit report/books of accounts
Profile Image

CMA. CS. Sanjay Gupta

Profile Image

CMA. CS. Sanjay Gupta (Expert)
25 September 2011 No. Rates of depreciation as per Companies Act, 1956 Schedule XIV need to be adopted.
Rates of depreciation as per Income Tax can not be used.
Profile Image

CA Ayush Agarwal

Profile Image

CA Ayush Agarwal (Expert)
25 September 2011 Rate of depreciation by Income Tax Act can Be Adopted Provided The Rate Should Not Be Less than as per Companies Act.

Since Co Act Provided that Depreciation Rates Can Be adopted High Than as provided in Co Act, But Not Less.

Just Give Disclosure in Notes & policies of company.
Profile Image

C A S.S.Agarwal, M.Com.,LL.B,

Profile Image

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
26 September 2011 The experts have correctly pointed out that as per the Companies Act only Schedule XIV is applicable
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details