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Income tax

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22 February 2013 If a company fails to calculate depreciation for one A.Y. what are the consequences?
How it should rectify the same?

22 February 2013 The company can revise its return of income if the due date for same is not elapsed.

22 February 2013 As per explanation 5 to Section 32,

"For the removal of doubts, it is hereby declared that the provisions of this sub-section shall apply whether or not the assessee has claimed the deduction in respect of depreciation in computing his total income"





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