sir/madam,
If a co follows i.t depr rate as its depr method for accounts purpose also ( not depr method as per Co act'56) til 31.03.2014 , so whether the co can continue with the old practice or it has to follow Co act'13????
Thanks in advance
Replies (1)
Guest
Company can not follow old practice..it has to follow provisions of companies act 2013...
Reason being,old co. Act provides for minimum rate of depriciation...but in new act ,there is no concept of rate..rather thr is concept of useful life...
So i guess old method won't work nw
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