Depreciation on fixed assets
This query is : Resolved
08 January 2015
SIR;
IF A COMPANY PROVIDE DEPRECIATION AS PER RATES MENTIONED IN INCOME TAX ACT INSTEAD OF THOSE PROVIDED IN COMPANIES ACT,THEN WHAT WILL BE THE CONSEQUENCES ?
PLEASE GUIDE ME
WITH REGARDS
IF A COMPANY PROVIDE DEPRECIATION AS PER RATES MENTIONED IN INCOME TAX ACT INSTEAD OF THOSE PROVIDED IN COMPANIES ACT,THEN WHAT WILL BE THE CONSEQUENCES ?
PLEASE GUIDE ME
WITH REGARDS
08 January 2015
If it is a Private/Public limited company it has to follow companies act provisions which prescribed the rates.Qualify the audit report if the management does not agree for change.It is against to accounting policies prescribed.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- Import license renewal
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
