Depreciation as per companies act.
C A Prasanth Narayan (Assurance-GSS) (51 Points)
01 February 2013C A Prasanth Narayan (Assurance-GSS) (51 Points)
01 February 2013
CA Karan Lodhi
(CA and B.com(hons.))
(879 Points)
Replied 01 February 2013
If u r preparing Financial Statements as per companies Act,1956 then charge depreciation from the date of purchase and if u r Computing Depreciation as per Income tax Act,1961 then calculate depreciation from the date of put to use as was decided by the SC in the case of dinesh kumar gulab chand aggarwal.
hope this will help u
C A Prasanth Narayan
(Assurance-GSS)
(51 Points)
Replied 01 February 2013
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