The assessee partnership firm wants to provide depreciation as per income tax act rates in its books of account. Is there any problem ? Schedule XIV is not applicable to a PF, so it can apply any rates in books ? Does accounting standard on Fixed asset and depreciation applicable to a partnership firm ? Regards,
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Depreciation in books of account of a partnership firm
Replies (1)
Yes !!! Dipjyoti G
P'ship can apply incometax rates !!!
and A/c std is also applicable !!!
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