In itr4(belated) depn amt entered in wrong column-demand ??
This query is : Resolved
CA Abhishek Singh
(Querist)
09 April 2012
my friend filed itr4 pertaining to assessment year 10-11.
"Adjusted profit or loss (6+9) 10 234348
Depreciation debited to profit and loss account included in 9 11 28389
Depreciation allowable under Income-tax Act
i Depreciation allowable under section 32(1)(ii) (column 6 of Schedule-DEP) 12i 0
ii Depreciation allowable under section 32(1)(i) (Make your own computation refer Appendix IA of IncomeTax Rules) 12ii 28389
iii Total (12i + 12ii) 12iii 28389
Profit or loss after adjustment for depreciation (10 +11 - 12iii) 13 234348"
he did not fill the depreciation schedule and just entered the depreciation amount in wrong column.
later on 143(1) was issued and depreciation amount was added to the total income and therefore demand was raised for rs.3500/-.
what should be done to rectify the same.
"Adjusted profit or loss (6+9) 10 234348
Depreciation debited to profit and loss account included in 9 11 28389
Depreciation allowable under Income-tax Act
i Depreciation allowable under section 32(1)(ii) (column 6 of Schedule-DEP) 12i 0
ii Depreciation allowable under section 32(1)(i) (Make your own computation refer Appendix IA of IncomeTax Rules) 12ii 28389
iii Total (12i + 12ii) 12iii 28389
Profit or loss after adjustment for depreciation (10 +11 - 12iii) 13 234348"
he did not fill the depreciation schedule and just entered the depreciation amount in wrong column.
later on 143(1) was issued and depreciation amount was added to the total income and therefore demand was raised for rs.3500/-.
what should be done to rectify the same.
CA MANOJ GUPTA
(Expert)
09 April 2012
if u filed return online file an online rectification
if not file a rectification application to AO
CA MANOJ GUPTA
JODHPUR
09828510543
if not file a rectification application to AO
CA MANOJ GUPTA
JODHPUR
09828510543
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