Prior Priod Income due to Depreciation Written back
This query is : Resolved
30 March 2009
Due to error or mistake incalculation of depreciation in 2006-07 and 2007-08, Depreciation written back has been donein the 2008-09 for the excess depreciation charged. We are paying MAT. What will be the impact on MAT Calculation and penalty if any due to that prior period income. Can any one clarify?
Guest
Guest
(Expert)
31 March 2009
I hope u r referring to Companies Act dep.
Depreciation written back will be considered for the purpose of MAT....
However,it will only affect current year's income. Hence no penalty.
Depreciation written back will be considered for the purpose of MAT....
However,it will only affect current year's income. Hence no penalty.
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