Depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 September 2012
Hi,
My client is proprietary concern.The tax audit applicable w.e.f. AY2010-11.
He has fixed assets of godown and vehicle only. Earlier auditor does not charged depreciation on godown.
1. Can we charge the depreaciation for AY2012-13 of current year
2. Can we charge depreciation of previous year. what will be the treatement in books of accounts and audit and notes and accounts for earlier year depreciation.
Kindly reply as soon as possbile.
Regards
RAHUL KUMAR
My client is proprietary concern.The tax audit applicable w.e.f. AY2010-11.
He has fixed assets of godown and vehicle only. Earlier auditor does not charged depreciation on godown.
1. Can we charge the depreaciation for AY2012-13 of current year
2. Can we charge depreciation of previous year. what will be the treatement in books of accounts and audit and notes and accounts for earlier year depreciation.
Kindly reply as soon as possbile.
Regards
RAHUL KUMAR
CA Sripal Jain
(Expert)
13 September 2012
you can very well charge it,just revise the return and claim the unclaimed depreciation
2. i think its treated as prior period items in P&l ACCOUNT and must be disclosed seperately
2. i think its treated as prior period items in P&l ACCOUNT and must be disclosed seperately
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