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Guest

Guest (Querist)

08 August 2012 whether to use fig of co. act or tax audit fig for calculation of ratio and annexure

Ki$hor B

Ki$hor B (Expert)
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08 August 2012 I suppose you are speaking about the ratios in clause 32.

Could you be clear on the term "tax audit fig" as mentioned in your query.

In my opinion, work out the ratios on the basis of the FS drawn from your BOA.

Guest

Guest (Querist)

08 August 2012 depreciation is included in manufacturing cost (GP calculation) there dep to be taken as per IT or Co. act???

Ki$hor B

Ki$hor B (Expert)
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09 August 2012 Got your Q now,
work out the depreciation as per the ‘Depreciation Table’ contained in Appendix- I to the Income Tax Rules, 1962

Opening WDV should generally be as per last Years Tax Audit Report, if any. If there is any deviation refer IT records available with the assessee and fact of reliance thereon should be stated.

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