Written down value basis: government endorses notional WDV using income tax depreciation rates for managerial remuneration. The Government endorses that, after adopting the written down value shown in company books at the commencement financial year as the starting point, the written down value for subsequent years for the Companies Act depreciation provision should be calculated by applying year to year the depreciation rates specified under the income tax law, yielding a notional written down value for computing depreciation for managerial remuneration rather than using the book figure at each year end.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Written down value basis: government endorses notional WDV using income tax depreciation rates for managerial remuneration.
The Government endorses that, after adopting the written down value shown in company books at the commencement financial year as the starting point, the written down value for subsequent years for the Companies Act depreciation provision should be calculated by applying year to year the depreciation rates specified under the income tax law, yielding a notional written down value for computing depreciation for managerial remuneration rather than using the book figure at each year end.
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