Rajesh Poddar (Chartered Accountant) (321 Points)
28 April 2012Dear ALL,
In case of LLP whether we need to provide depreciation as per companies act or we can directly provide as per Income Tax act. ?
Please reply
Rajesh Poddar
Joey Tribbiani
(fdg)
(2010 Points)
Replied 28 April 2012
I think u dont need to prepare separate accounts for compliance purposes,as the main aimn of the act was to reduce compliance burden. Hence directly IT acts rates can be applied as is done in the case of ordinary partnership.
Ruturaj Bamboli
(Article)
(23 Points)
Replied 09 July 2013
CAclubindia
