IS IT MANDATORY THAT COMPANIES TO CACULATE DEPRECIATION AS PER COMPANIES ACT IN THE BOOKS?
9 Replies
CA Madhumita Binani
(Executive Accounts (SERVICE))
(389 Points)
Replied 27 August 2009
NO... NOT MANDATORY IN SCH XIV IT IS CLEARLY WRITTEN THAT THE RATES ARE THE MINIMUM RATE PRESCRIBED.....!!
hemal
(CA FINAL)
(176 Points)
Replied 01 September 2009
As per co. Act minimum rate must be charged as per sch. XIV, u can claim higher dep. that as specified.
Kaustuv
(Practicing CA)
(1778 Points)
Replied 01 September 2009
the only thing to remember that the rate of depreciation can't be lower for that particular asset than what is mentioned in Sch. XIV of the Companies Act.
naresh
(Manager Accounts)
(25 Points)
Replied 20 September 2009
I have to prepare depreication chart as per per companies act 1956
Pls provide me the format of that
thanks
naresh maini
(Guest)
Here is the attached Schedule XIV, on the basis of that you can prepare the Format of Depriciation Chart.
Ankur Shah (Practicing Company Secretary)
“Guru Gautam” Bungalow, Inside Parshwa Tower,
Nr. Shyamal Cross Road, 132ft. Ring Road,
Satellite, Ahmedabad – 15
Contact: + 91-9427633901
E-mail: ankurjewel @ gmail.com
Blog: csankur.blogspot.com
(Guest)
You can follow my Depriciation Chart also.
Kindly get the attached format.
Attached File : 27 depriciation.xlsx downloaded: 895 times
Dinesh Bansal
(Chartered Accountant)
(22 Points)
Replied 09 October 2009
Depreciation cannot be lower than specified in the companies Act
Amit Kumar
(Sr. Accounts Executive)
(21 Points)
Replied 08 September 2011
can u send me Draft Format of Dep Chart as per companies act 1956 sec 350.
Urgent need .......
Regards,
Amit
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