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Depreciation as per co. act
if depreciation calculated as per co act is Rs. 31580, however remaining value of block of asset (Computer) is rs 18420... which amount of depreciation is to be booked in books??
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If it's Private limited Company, than depreciation is required to be charged as per Company Act, 2013 in books of account of Company. In Any other case you can charge as per IT Act.
Block of assets concept is as per income tax act, So, in block of assets in income tax you have to charge depreciation as per Income tax.
Both are Separate to each other...
Block of assets concept is as per income tax act, So, in block of assets in income tax you have to charge depreciation as per Income tax.
Both are Separate to each other...
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