Depreciation
This query is : Resolved
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
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
12 November 2011
for the book profit take the depreciation value as per co act, and for the computation of taxable profit take the depreciation as per income tax act
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