09 September 2015
THE MCA NOTIFICATION DATED 29TH AUGUST 2014 STATES THAT THE NEW DEPRECIATION SYSTEM IS VOLUNTARY FOR THE YEAR 2014-15 AND IS MANDATORY FROM 1ST APRIL 2015 ONWARDS. THIS MEANS OLD SYSTEM OF PROVIDING DEPRECIATION ON RATE BASIS CAN BE OPTIONED FOR THE YEAR 2014-15. IS IT CORRECT
10 September 2015
Your inference is totally not correct. What is not mandatory for 2014-15 is componentisation of assets.But component accounting is mandatory from 01-04-2015. Hope this is clear
CAclubindia
