Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →


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<h1>Companies Can Apply for Depreciation Exemption with Form No. 23AAC Under Companies Rules 1956</h1> Form No. 23AAC is an application to the Central Government under the Companies (Central Government's) General Rules and Forms, 1956, allowing companies to request an exemption from providing depreciation. This form was introduced through Notification GSR 56(E) on February 10, 2006. It is a statutory provision under the Companies Law, enabling companies to seek approval for not accounting for depreciation, which is typically a mandatory financial practice under company regulations.