Is it possible to change the accounting policy of the Company and take the higher rate of depreciation between the Income Tax Act and Schedule II of Companies Act 2013 ?
The rate of depreciation shall be determined on the basis of the useful life of an asset in Companies Act.
A suitable justification would be provided while doing the amendment in accounting policy.
The reason for doing so is to set aside the obvious deferred tax asset/liability which is a future thing and make the financials look more actual than before.
Opinions are invited in this regard please.
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· In section 36 of the Arbitration and Conciliation Act, 1996 new proviso has been inserted which says that if the court is satisfied that a prima facie case is made out that an arbitration agreement or contract or an arbitration award was made under pressure or effected by fraud or corruption, it shall stay the award unconditionally pending disposal of the challenge under section 34 to the award.
This proviso shall be effected from 23rd day of October, 2015, which means the proviso shall apply to all court cases arising out of or in relation to arbitral proceedings, irrespective of whether the arbitral or court proceedings were commenced prior to or after the commencement of the Arbitration and Conciliation (Amendment) Act, 2015.
· The Eight Schedule has been omitted and the qualifications, experience and norms for accreditation of arbitrators shall be specified by the regulations.
will you share section of CA Act 2013 where it is written that high court order of scheme of amalgamation need to attach to AOA of Amalgamated Company.
Kindly share the reference.
Let me know, whether the highcourt of Mumbai is giving stay order for the disqualification of director.
If yes, then give the contract number of the person who is filing the petition regularly.
Any one can provide in a critical manner with benefit or disadvantages of passed Union Budget - 2018 ??Click here to view / answer Share it on
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