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Depreciation

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 April 2014 For a Tax Audit Company,in the FY 2012-13,the provision for depreciation was provided Rs.51,184 but actually the provision has to be provided only Rs. 17,584. The income tax return and ROC was also filed for the Company. What will be the consequence and how the mistake can be rectified??

Thanks in advance...
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C.A. Mayur J. Raiyani

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C.A. Mayur J. Raiyani (Expert)
30 April 2014 For Income Tax :
(1)if your ITR processed then you can file rectification of mistake u/s 154
(2)if your ITR not processed then you can file revised return upto 31.03.15 but sure that original return is filed in time.

For MCA :
you can file revised return but for that you have to bear additional fees.
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Querist : Anonymous

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Querist : Anonymous (Querist)
30 April 2014 What will be the consequence for the above mistake is not rectified??
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Rupesh Jain

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Rupesh Jain (Expert)
30 April 2014 dear sir

i hope depreciation under income tax is filed by you will correct .

it found mistake under company act pls check.
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