vimalbhai (service) (72 Points)
07 April 2013Dear Sir,,
in our company book is running 3 shift for Depreciation and we count the 3 shift Depreciation.
in current year we purchased and installed on new machinery now can i count single shift Depreciation in this machinery
any quary or object, please guide
CA Nirav Pandya
(Assisting to manager accounts)
(44 Points)
Replied 15 April 2013
As per companies act or as per Incomre tax act?
vimalbhai
(service)
(72 Points)
Replied 16 April 2013
Companies act.
we installed in the month of Q-2 and Quarter result of Q2, Q3 also issued with 3 shift Dep.
CA Nirav Pandya
(Assisting to manager accounts)
(44 Points)
Replied 20 April 2013
According to my opinion there is nothing specified in companies act restricting taking depre on the basis of single shift though used for more than one shift, but it is not a proper practice to do so.
CAclubindia
