Go AD-Free with CAclubindia Pro and get a FREE CCI Coffee Mug. Subscribe Now!

Changing in Accounting policy

Tapan Bera (service) (25 Points)

03 July 2009

Depriciation method change in WDV to SLM from begining year as per company act, This change is require in depreciation calculation in Income tax act. Plese advice details procedure.

Reply
Follow
Share

1 Replies

Chintan Vasa (CA Final Student M.Com) (1241 Points)
Replied 03 July 2009

For the purpose of Income Tax only one method is allowed for depreciation & that is WDV. However the power generation units have the option to choose from WDV or SLM. However for other assessees WDV is mandatory for the purpose of Income Tax. Hence there is no requirement for any calculation.