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Reg. Depreciation Allowable

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This query is : Resolved

SIDDHARTH MAHESHKUMAR SHAH (Querist)

12 July 2011 I have filed my Income Tax return online on 15.10.2010 for the AY 2010-2011. My Firm is Proprietor Ship and Audit Firm. Now I had got an Demand U/s 143(1) from CPC, Bangalore alongwith with the acknowledgement for return filed to Pay the X Amount for that year. I have compare the data as per return filed and as per the intimation U/s 143(1) made by INcome Tax Office-CPC Bangalore. There has been variance that they have not allowed the depreciation amount from my income. I have shown in return and computation as first added depreciation to income then deducted. But they have taken the taxable income as added depreciation. So in this case I can make an rectification to CPC Bangalore. How can I. Plz do the needful.

Thanks
Regards
Siddharth

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

12 July 2011 As per my guess , you have not claimed the depreciation. Means you have not filled up depreciation schedules. Schedule DPA, DOA, DEP to be filled up properly now, for rectification purpose.

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