Will it be fine if private Ltd Company do not follow
depreciation rate as per The Companies Act,1956 & follow
Depreciation Rates as per Income Tax. Also is it necessary
to claim VAT Setoff on Asset Capitalised only after some
percentage of retention.
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Answer Posted / j praveen raja
Will it be fine if private companies Annual Income statment
and finanical statment should based on companies Act 1956.
depriciation also should follow as per given under shedule
of companies act. if the companies do not follow the
depricition rate as per companies act. the company can
claim vat 50% on total value in first six month and
remaining 50% can be claim in subsequent six month
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