Schedule XIV Depreciation
This query is : Resolved
27 July 2009
Due to economic slowdown, the company worked only 3 days in a week whole of 2008-09.
1. Can the company charge proportionate depreciation?
2. Can that depreciation be less than that prescribed in the Sch XIV?
Thank you.
1. Can the company charge proportionate depreciation?
2. Can that depreciation be less than that prescribed in the Sch XIV?
Thank you.
27 July 2009
Depreciation should be provided for the entire year. Rate of depreciation should not be less than the rates prescribed in schedule X1V to the Companies Act,1961.
28 July 2009
Agree with Warrier Sir.
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