10 September 2010
pls solve my query. company "A" purchased a computer in 2008-09 for Rs 40000 and booked the same as furniture and fixture and depreciation has been charged @10% in 2008-09 i.e Rs 4000. same did not come in the notice of tax auditor and statutory auditor. in 2009-10 company transfereed Rs 36000/- (40000-4000)from furniture & fixture to computer. my query is that actully dep on computer should be Rs 33600(2008-09 rs 24000, 2009-10 Rs 9600) and wdv as on 31.03.2010 should be 6400/- while now its wdv is Rs 14400/-(dep 2008-09 rs 4000in furniture and 2009-10 Rs 21600/- ) how same should be reflected in this year tax audit report.
CAclubindia
