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Depreciation

This query is : Resolved 
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(Querist)
12 November 2011 Dear All,
Please kindly let me know in the Profit and Loss account statement of a company whether we should take the depreciation value as per IT Act or Company Act.
Thanks & Regards,
Don Bosco
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CA Ayush Agarwal

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CA Ayush Agarwal (Expert)
12 November 2011 Depreciation as per Companies Act to be Taken.
since u have to prepare statement as per schedule VI of Companies act.

Generally Big Corporates Keep Books of Account as Per Both Law.

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