related to depreciation

companies have to prepare accounts and get it audited as per companies law . But while filing return of income depreciation as per income tax act is allowed. so have to calculate depreciation for both acts. this difference of deptn on income might increase your tax liability in earlier and and reduce in later years or vise a versa.

Dear shubham,

Charging depreciation as per companies act is mandatory because if depreciation is not charged True and Fair view of Financial Statements is affected.