RATES OF DEPRECIATION AS PER COMPANIES A CT, 1956 SCHEDULE XIV

Rates of depreciation:
Rates of depreciation are provided in Schedule XIV to Companies Act. The excel file contains rates of depreciation as per Companies Act for the Financial Year 2012-13.
How depreciation is calculated as per Companies Act?
Depreciation as per Companies Act can be calculated both on WDV or SLM basis.
Is it mandatory to claim depreciation?
As per Section 205 of Companies Act, no dividend shall be declared or paid by a company for any financial year except out of the:
a)  profits of the company for that year arrived at after providing for depreciation; or

b)  profits of the company for any previous financial year or years arrived and after providing for depreciation.

 RATES OF DEPRECIATION AS PER COMPANIES ACT,1956

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