Depriciation
This query is : Resolved
24 September 2013
Dear All,
WHY WE PREPARE TWO TYPES OF DEPRECIATION AT THE TIME OF COMPANY BALANCE SHEET PREPARE.
DEP AS PER IT ACT & AS PER COMPANY ACT
PLEASE TELL ME...IN BRIEF
THANKS
WHY WE PREPARE TWO TYPES OF DEPRECIATION AT THE TIME OF COMPANY BALANCE SHEET PREPARE.
DEP AS PER IT ACT & AS PER COMPANY ACT
PLEASE TELL ME...IN BRIEF
THANKS
24 September 2013
Depreciation as per the companies act is for the purpose of accounting into the books.
And depreciation as per the IT act is for the purpose of computation of taxable income and tax liability by the company.
OM SAI SRI SAI JAI JAI SAI
And depreciation as per the IT act is for the purpose of computation of taxable income and tax liability by the company.
OM SAI SRI SAI JAI JAI SAI
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