Thursday, April 15, 2010

CA INSTITUTE WANTS FLEXIBILITY TO COs ON DEPRECIATION RATES

The CA institute favours a regime where depreciation rates for company law purposes are based on the useful life of an asset. The depreciation rates should also be indicative and not prescriptive as is the case now, according to Mr Amarjit Chopra, President of Institute of Chartered Accountants of India (ICAI).

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