depriciation
This query is : Resolved
himansu kumar samal
(Querist)
17 January 2011
Where depriciation schedule of erlier years not available as per income tax act,but only company depriciation schedule of earlier years available. then how can i charge depriciation as per income tax act in current year?i am working on a company which return is not filed for 5 years.please help me as soon as possible.
CA PARAS BAFNA
(Expert)
17 January 2011
You may furnish the headings under which assets are lying and the years for which you require the rates. Caclub experts will provide you the rates of Depreciation.
Guest
Guest
(Expert)
17 January 2011
It is not 100% correct but you can go 5 years back and get the W.D.V. of last 5 years as per Incometax Act on 5 years old WDV as per Companies Act and then calculate depreciation for the current year.
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