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dep rates

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(Querist)
02 May 2011 is it compulsory for a co. to apply depriciation rates as per companies act or it can apply rates as per income tax act??
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CA Navin Jain

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CA Navin Jain (Expert)
02 May 2011 while prepare the balance sheet rate of dep as per companies act shall be applied,

and while calculating of tax liability rate of dep as per income tax act shall be applied

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