Depreciation

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 August 2012 Sir,
Please tell me that can we claim 50% of depreciation of an accounting period for show profit in company.

Eg. A private limited company has depreciation for the year 2011-12 is 2,00,000 and profit before depreciation is 1,20,000. so can we claim 50% of depreciation(1,00,000) for show profit(20,000).

Amol S Joglekar

Amol S Joglekar (Expert)
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22 August 2012 You need to show the depreciation as per companies Act. Income tax computation may differ from this. But claiming the depreciation of your choice is not permitted.

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