Income tax
This query is : Resolved
geethanjali
(Querist)
22 February 2013
If a company fails to calculate depreciation for one A.Y. what are the consequences?
How it should rectify the same?
How it should rectify the same?
CA Suraj Lakhotia
(Expert)
22 February 2013
The company can revise its return of income if the due date for same is not elapsed.
CA Suraj Lakhotia
(Expert)
22 February 2013
As per explanation 5 to Section 32,
"For the removal of doubts, it is hereby declared that the provisions of this sub-section shall apply whether or not the assessee has claimed the deduction in respect of depreciation in computing his total income"
"For the removal of doubts, it is hereby declared that the provisions of this sub-section shall apply whether or not the assessee has claimed the deduction in respect of depreciation in computing his total income"
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