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Depreciation

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Querist : Anonymous

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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).
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Amol S Joglekar

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Amol S Joglekar (Expert)
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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