We, being partnership firm changed depreciation method reducing balnace to as slm on useful lives.
Pls provide guide on notes to accounts. Help me to qrite note on this in financial.
2 Replies
CA Sunil Kumar
(Chartered Accountant)
(4524 Points)
Replied 31 August 2020
SLM method is not allowed in income tax act. only power generation undertakings can opt this method.
nikita SHAH
(chartered accountant)
(194 Points)
Replied 31 August 2020
But this change not for income tax act. For our private book, which will be disallowed. I know
Recent Topics
- GST registration -notice
- GSTIN Suspended Form GST Reg 17
- Request for GST Clarification regarding ITC
- Is Capital Gain exemption available for Property a
- EPF CONTRIBUION BY EMPLOYER
- Letter of credit -seller procedure
- Filling form 26 QB
- RPT AND ITC ISSUE
- Tax Liability and ITC Summary related Issues
- REQUIRED FORMAT FOR AMENDMENT TO PARTNERSHIP DEED
Related Threads
CAclubindia
