28 August 2012
While preparing final accounts for a Private Ltd Company, do we have any option to opt for the ITax Act Depreciation rates instead of Companies Act, '56 rates?
Guest
Guest
(Expert)
01 September 2012
No, Companies are governed by the provisions of Companies Act, 1956 which stipulate depreciation as per schedule XIV.
It is mandatory to provide depreciation as per Schedule XIV.
CAclubindia
