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depriciation

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This query is : Resolved

himansu kumar samal (Querist)
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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

CA PARAS BAFNA (Expert)
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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.

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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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