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sir..
i want to know that whether it is mandatory for a private limited company to charge depreciation as per companies act,1956 in its books of accounts ?? and when i was seen the audited balance sheet for the F.Y 2012-13 on tax audited balance sheet, differed tax was not calculated and deprecation as per IT Act was carry to (Same amount as in B/S)in Books. whether it is correct ???
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deprecation is calculated based on section 350 and schedule 14 of the Compamies Act 1956 it gives list of depreciation on different articles used by companies in regular course
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