Depreciation under companes Act wrongly claimed previous 3 years on asset sold
This query is : Resolved
13 May 2025
A Motor Car (one of 3 Motor cars in books) was already sold on 2020-21 and accordly Motor Car (WDV amount) was reversed. But due to some mistake Depreciation under Comanies Act was charged in 2021-22, 2022-23 & 2023-24. But as per Income Tax Act there was no mistake. How to rectify the error in 2024-25. What entry(ies) to be paased?
13 May 2025
Depreciation reserve dr
To depreciation cr
(Excess depreciation charged reversed)
To depreciation cr
(Excess depreciation charged reversed)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Wrong payment entry made
- Compensation received from electricity transmission company for installation of High tension line
- PF Withdrawal Reporting in ITR
- Input on premium employees group insurance
- DIR 12 for appointment and resignation
- Registration of Transporters under GST
- Section or Rule of income Tax for Tds deposit deadlines
- Income of Infant and Minor
- Regarding Chartered Accountant
- Place of Supply for immovable property
- GST & ITR Reporting for YouTuber with US Viewership and Adsense Income
- TDS-123 income tax
- What is method of calculation of Gratuity and Bonus
- Salary from HO to Branches
- Gstr 4 not filed last 3 years
- GST Rate and its treatment
- UPDATE legal name of business
- CG Account Scheme
- Debtors and Creditors How to make
- Query Regarding Articleship Eligibility Based on Current Work Experience
Trending Online Classes
CAclubindia
