CAN ANY BODY GUIDE ME, IT IS MANDATORY FOR ANY COMPANY IN HIS BALALNCE SHEET SHOW DEPRECIATION AS PER COMPANY ACT.
Regards
BISHNU DEO SHARMA (SERVICE) (101 Points)
09 March 2009CAN ANY BODY GUIDE ME, IT IS MANDATORY FOR ANY COMPANY IN HIS BALALNCE SHEET SHOW DEPRECIATION AS PER COMPANY ACT.
Regards
CA SUDIPTA SINHA
(Commerce Coaching- Accounts Cost FM)
(735 Points)
Replied 09 March 2009
in case of a company it is mandatory to charge depreciation as per Companies Act. as per Income Tax Act it has to prepare a seperate chart for depreciation. As the companies are governed by Companies Act it has to follow the provision of the said Act. in case of other entities (sole proprietorship business) depreciation can be charged as per IT Act.
R.PARTHIBAN
(student)
(31 Points)
Replied 01 October 2014
why prepare Companies Act Depreciation and income Tax act Depreciation
Bhavin Bhadanji
(Accountant)
(21 Points)
Replied 06 October 2014
Dear sir,
I have a query for accounting purpose related to service tax on transporation of good bear by us.
suppose a company is dealing with transpotation of good and issue a bill of RS 1000/-, which doesn't include service tax and they wrote service tax RS 30.9/- is to be payable by consignor.
Please Suggest me right entry for the same................
Thanking you
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