https://www.taxtmi.com/circulars?id=10712 Depreciation for calculating managerial remuneration is to be based on the written down value shown in the company's books; where assets have been written up into a capital reserve, the enhanced book value from such revaluation is to be treated as the written down value for this purpose, with any depreciation on the write up charged to the capital reserve and not to working profits, and the enhanced book value is relevant only in the first financial year after the Act's commencement. en-us Wed, 27 Jun 1962 00:00:00 +0530 Thu, 16 Jun 2011 14:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10712 Depreciation for calculating managerial remuneration is to be based on the written down value shown in the company's books; where assets have been written up into a capital reserve, the enhanced book value from such revaluation is to be treated as the written down value for this purpose, with any depreciation on the write up charged to the capital reserve and not to working profits, and the enhanced book value is relevant only in the first financial year after the Act's commencement. Circulars Companies Law Wed, 27 Jun 1962 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10712