115 jb
This query is : Resolved
himanshu vyas
(Querist)
17 September 2012
while deducting b/f loss or depriciation whichever is less as per books of accounts loss or dep. should be taken in totality or in individually? for exa:
2010-11 2011-12 total
loss 100 90 90(lower)
dep 500 505 500(lower
total 600 595 590
so 595 should be deducted or 590. pls guide
2010-11 2011-12 total
loss 100 90 90(lower)
dep 500 505 500(lower
total 600 595 590
so 595 should be deducted or 590. pls guide
CA CS Amit S. Kedia
(Expert)
17 September 2012
it shall be individually for every year and 590 will be deducted.
17 September 2012
Comparison should be made with the respective summed up figures ,meaning thereby 190 can be deducted as per the working given below:-
Sum of the loss = 190
Sum of depreciation =1005
Least of the above = 190
Aniline Textiles pvt Ltd's case,27 SOT 152, may be referred to.
Sum of the loss = 190
Sum of depreciation =1005
Least of the above = 190
Aniline Textiles pvt Ltd's case,27 SOT 152, may be referred to.
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himanshu vyas
(Querist)
18 September 2012
thanks a lot experts
CA CS Amit S. Kedia
(Expert)
18 September 2012
Thanks Warrierji, you are correct.. deduction will be 190 and not 590. I thot it is given year wise but it is given nature of claim wise.
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