Depreciation for undisclosed asset

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

22 October 2017 An assessee who comes under tax audit as per section 44 AB has not shown his assets which was purchased in previous AY in the accounts and so not claimed depreciation. This year he wants to show those assets under purview of the income tax act and wants to claim depreciation in order to reduce tax. Now the form 3CD asks for date of purchase for addition if he tries to show his assets as addition in this AY. How can he deal in this situation?

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
Follow

22 October 2017 Than how the assessee has treated the cash outflow in books of accounts

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
Follow

22 October 2017 As per me assessee has one option left than he can show the asset has been purchased in Previous AY but the Asset is put to use in Current AY

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

GOVIND VAJIRAJ DESAI

Ramulu Thakkalapally

RAVINDRA JOSHI

cgagroshg cgagroshg

velichety.l.narasimharao

Subscribe Now

Depreciation for undisclosed asset

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Manager- Finance and Compliance

Senior Executive

GST CONSULTANCY

GST CONSULTANT

Accountant