Depriciation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 June 2012 I have received Intimation from CPC disallowing Depriciation. As a general practise, I have claimed Depriciation in Return of Income BUT NOT DEBITED TO PROFIT AND LOSS ACCOUNT. CPC has refused the claim of Depriciation. As per CPC It is must to Debit Depriciation to Profit & Loss Account. Please Help with argument, logic etc.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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23 June 2012 How can you claim an expense which has not been debited to the P&L account?

You have to debit depreciation to the P&L account to claim deduction of the same.

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