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depriciation

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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

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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