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 :
- GSTR 9 LATE FEE
- Best Online Mock Test Series for CA Inter January
- COST OF IMPROVEMENT
- Pillows and Mattresses
- GST Applicability for Reg. / Un-Reg. Indian custom
- Amended GST Act & Rules
- FAST DS 2026 MAIL QUERY
- Does Anyone need CA Foundation books of May2026 at
- Last day for ITR-U for AY 2023-2024 (FY 2022-2023)
- Sale of shares in indian company by a non resident
Related Topics :
CAclubindia
