Depreciation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 October 2015 Can a Pvt Ltd company claim Dep based on SLM Method because as per companies act 2013 dep should be claimed on useful life as per schedule - II & due to which Dep based on WDV method comes higher compare to SLM Method due to which profitablity of company affect

Please guide

Amol S Joglekar

Amol S Joglekar (Expert)
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22 October 2015 In fact, the companies are required to charge the depreciation as per companies act 2013. (Which gives the SLM)

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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23 October 2015 Yes you can do so, If you are opting for SLM and earlier you were charging under WDV then give disclosure to this effect in notes to accounts.

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