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Depreciation on fisxed asests

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(Querist)
28 August 2008 One business firm has not charged depreciation on fixed asests for last two years now this year this firm charged depreciation and claimed as per income tax laws. My question is that : what will be the value of fixed assests for the purpose of deprection asf per income tax laws and what will be the provision for deprectiation for the amount not chartged last two years.
Thanks
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
28 August 2008 You have to be clear hether the failure to claim was in assessment or in books.

What was the reason for not charging? Mere omission?
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CA MOHIT VAATS

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CA MOHIT VAATS (Expert)
28 August 2008 Depreciation is mandatory to be charged but in case u have not charged the depreciation by whetever reason, the same will assumed that depreciation is charged for the year/years in which u have not charged the same
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