Depreciation.....
This query is : Resolved
12 August 2017
Dear Sir / Madam.,
A Pvt Ltd Company's business transactions also Profitable. But, After depreciation it gone to loss.
My questions are.,
1. The depreciation calculation is compulsory or not....?
2. Now, The situation the company is loss. Actually it's Loss or not in the business transactions and the business......?
CA. Vinodh Kothari
(Expert)
12 August 2017
Yes depreciation calculation is mandatory as per companies act.
Depreciation is claimed on business assets hence it is business loss.
Another aspect is when you go for loan they consider depreciation as non cash loss.
VK
Depreciation is claimed on business assets hence it is business loss.
Another aspect is when you go for loan they consider depreciation as non cash loss.
VK
Message likes :
1 times
12 August 2017
Thank you for the Reply Sir...
In case we can't apply the depreciation then what are problem ll be from department....?
please it's just my knowledge only....
sorry for the misuse your time...
CA. Vinodh Kothari
(Expert)
12 August 2017
Then the auditors should qualify his audit report and there are some or penal provisions.
VK
VK
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Nursery business
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
