Change in method of depreciation

[Sushrut Ghaisas]

Hello all,

I need clarification w.r.t change in the method of depreciation by the Private Limited Company.

Whether the prior approval of the Board is necessary for changing the method or mere noting in the Board meeting will suffice the purpose.

Thanks in advance.

Greetings,
Sushrut Ghaisas
Contact: 9158003511

[Arun Kumar Maitra]

Mere noting in the board meeting will not be enough.

Pass board resolution and get it reviewed by the statutory auditor.

Disclose effect of the change in the notes to the financial statements as required under AS 5 & 8.

CA CS Arun Kumar Maitra 

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