Please let me know -
Is it necessary / mandatory for a company (whether public or private) to charge depreciation as per schedule XIV of the companies act, 1956 or it can charge depreciation as per section 32 of the Income Tax Act, 1961 in the Financial Statements ?
Kind Regards
Neha 
Menu
Depreciation on Companies
Replies (2)
It is not mandatory to follow Schedule XIV for every company. The depreciation can be charged at the rates prescribed under section 32 of the Income tax Act but in no case the depreciation so charged should be less than the rates mentioned in schedule xiv of the companies Act, 1956.
when company charge dep as per schedule XIV of thecompany act is mandatory but when u file return then dep as per company act is dis allowed and sec 32 of income tax is applied
Recent Topics :
- Chhath Puja 2026 Dates Timing Tithi
- Tax Benefit on Second Property
- IPO application checklist: 18 rules that decide wh
- NSE IPO Price, GMP, Allotment Date and Listing
- Gst tax rate
- Cash deposited by customer
- CAPITAL GAIN REG
- Built a simple tool to automate client document fo
- Capital Gain on Sale of SRA Allotted Flat Received
- Discrepancy in Auto populated figures in GSTR1 of
Related Topics :
CAclubindia
