How can a Company charge depreciation at the rates more than that specified in Schedule XIV. When Section 350 is silent about.
4 Replies
Pritesh Shroff
(CA FINAL)
(26 Points)
Replied 27 February 2009
sch XIV lists down minumum rates which should be applied for the assets specified.. so a company can charge higher rates as per useful life of the asset according to AS 6.
CA Akshat
(article)
(422 Points)
Replied 02 March 2009
schedule XIV rate are MINIMUM RATE so co can claim dapreciation above minimum rate
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