Lower depreciation

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

14 November 2011 Hello,
According to companies act, 1956 can we charge lower depreciation on machinery. Because the life of machinery is more than 10 years. For that we have to make application to Central goverment. Please can I get Board resolution for it.

CA AYUSH AGRAWAL

CA AYUSH AGRAWAL (Expert)
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14 November 2011 No such board resolution is prescribed in companies act and lower depreciation cant be charged

Querist : Anonymous

Querist : Anonymous (Querist)

14 November 2011 Lower Depreciation is applicable by MCA21 in Form 23AAC.
But their might not be any board resolution under companies act, 1956. But lower depreciation is applicable.

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Querist : Anonymous

Querist : Anonymous (Querist)

14 November 2011 If have board resolution then send me.