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DEPRECIATION UNDER THE INCOME TAX ACT, 1961 AS WELL AS THE COMPANIES ACT, 2013

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DEPRECIATION UNDER THE INCOME TAX ACT, 1961 AS WELL AS THE COMPANIES ACT, 2013 Introduction: Depreciation is a significant accounting concept that recognizes the gradual wear and tear, obsolescence, or expiration of an asset’s useful life. The Income Tax Act, 1961, and The Companies Act, 2013 provide guidelines for determining the allowable depreciation for tax […]

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COMPARING INVENTORY WITH PLANT AND MACHINERY RECORDS MAINTAINED BY THE COMPANY

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COMPARING INVENTORY WITH PLANT AND MACHINERY RECORDS MAINTAINED BY THE COMPANY When it comes to managing a company’s assets, keeping track of inventory and plant/machinery records is crucial for smooth operations. However, these two types of assets have different characteristics and require different methods of tracking. Here are some key points to consider when comparing

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ASSESSMENT OF CONDITION OF PLANT, MACHINERY AND EQUIPMENT BASED ON VISUAL INSPECTION

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ASSESSMENT OF CONDITION OF PLANT, MACHINERY AND EQUIPMENT BASED ON VISUAL INSPECTION Assessing the condition of plant, machinery, and equipment is an essential task in various industries such as manufacturing, construction, and mining. Regular inspections are necessary to ensure that these assets are functioning at their optimal levels and to prevent any potential hazards. Visual

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IMPORTANCE OF TECHNICAL SPECIFICATIONS OF PLANT AND MACHINERY IN VALUATION EXERCISE

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IMPORTANCE OF TECHNICAL SPECIFICATIONS OF PLANT AND MACHINERY IN VALUATION EXERCISE Technical specifications of plant and machinery play a critical role in the valuation exercise because they provide essential information about the equipment being valued. Technical specifications include details such as the make and model of the equipment, its age, capacity, condition, and any special

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ENVIRONMENTAL IMPACT OF HYDRAULIC MACHINERY AND MITIGATION STRATEGIES

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ENVIRONMENTAL IMPACT OF HYDRAULIC MACHINERY AND MITIGATION STRATEGIES Hydraulic machinery, which uses liquids to create mechanical energy, has become a vital part of many industries. From construction to manufacturing, hydraulic machinery has revolutionized the way we work. However, these machines also have a significant impact on the environment. In this article, we will explore the

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HYDRAULIC MACHINERY IN CONSTRUCTION: ENHANCING PRODUCTIVITY AND PRECISION

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HYDRAULIC MACHINERY IN CONSTRUCTION: ENHANCING PRODUCTIVITY AND PRECISION Hydraulic machinery has been a game-changer in the construction industry, allowing for greater productivity, precision, and efficiency in a variety of applications. These machines use hydraulic power to generate motion, allowing them to lift heavy loads, move materials, and perform a wide range of other tasks. One

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HYDRAULIC MACHINERY IN AGRICULTURE: INCREASING EFFICIENCY AND YIELD

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HYDRAULIC MACHINERY IN AGRICULTURE: INCREASING EFFICIENCY AND YIELD Hydraulic machinery has revolutionized the agriculture industry by increasing efficiency and yield. The use of hydraulics in agriculture has allowed farmers to work more efficiently, reduce labor costs, and increase productivity. Hydraulic machinery can be found in various agricultural applications, including tractors, harvesters, irrigation systems, and more.

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COMMON MAINTENANCE PRACTICES FOR HYDRAULIC MACHINERY

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COMMON MAINTENANCE PRACTICES FOR HYDRAULIC MACHINERY Hydraulic machinery is widely used in a variety of industries, from manufacturing to construction, agriculture, and mining. Proper maintenance is critical to ensure the efficient operation of hydraulic machinery, prevent downtime and costly repairs, and extend the life of the equipment. In this article, we will discuss some of

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TYPES OF HYDRAULIC MACHINERY AND THEIR APPLICATIONS

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TYPES OF HYDRAULIC MACHINERY AND THEIR APPLICATIONS Hydraulic machinery is equipment that uses fluid power to perform work. The fluid is usually oil or water, which is pumped through a hydraulic system to create mechanical power. Hydraulic machinery is used in a wide range of applications, from heavy construction equipment to manufacturing machinery. In this

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UNDERSTANDING THE WORKING PRINCIPLE OF HYDRAULIC MACHINERY

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UNDERSTANDING THE WORKING PRINCIPLE OF HYDRAULIC MACHINERY Hydraulic machinery plays a critical role in a variety of industries, including manufacturing, construction, and transportation. Understanding the working principle of hydraulic machinery is essential to their safe and efficient operation. In this article, we’ll explore the basic principles of hydraulic machinery and how they function. Hydraulic machinery

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CORPORATE GOVERNANCE AND ETHICS UNDER THE COMPANIES ACT, 2013

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CORPORATE GOVERNANCE AND ETHICS UNDER THE COMPANIES ACT, 2013 Corporate governance refers to the system of rules, practices, and processes by which a company is directed and controlled. The Companies Act, 2013 recognizes the importance of corporate governance and ethics and sets out various provisions to ensure that companies operate in a responsible and ethical

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