Depreciation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 September 2012 Hi,

My client is proprietary concern.The tax audit applicable w.e.f. AY2010-11.

He has fixed assets of godown and vehicle only. Earlier auditor does not charged depreciation on godown.
1. Can we charge the depreaciation for AY2012-13 of current year
2. Can we charge depreciation of previous year. what will be the treatement in books of accounts and audit and notes and accounts for earlier year depreciation.

Kindly reply as soon as possbile.
Regards
RAHUL KUMAR

CA Sripal Jain

CA Sripal Jain (Expert)
Follow

13 September 2012 you can very well charge it,just revise the return and claim the unclaimed depreciation

2. i think its treated as prior period items in P&l ACCOUNT and must be disclosed seperately