Depreciation
This query is : Open
25 October 2018
If any Co likes not to calculate depreciation as per Co Act but likes to calculate depreciation as per Income tax act into balance sheet, is it acceptable or not ?
25 October 2018
Hi...
As per Companies Act,
1. you can charge higher rate of depreciation than the act itself.
2. But, if you want to charge lower rate of depreciation then, you need to take technical acceptance.
So, you can go with income tax rates, but you need to consider above two points and comply accordingly.
As per Companies Act,
1. you can charge higher rate of depreciation than the act itself.
2. But, if you want to charge lower rate of depreciation then, you need to take technical acceptance.
So, you can go with income tax rates, but you need to consider above two points and comply accordingly.
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