Under what all heads do we adjust the profit/loss on adoption of depreciation as per Companies Act 2013 in ITR.
Method Adopted by me is-
Show it as expense/Income under P&L sheet & show it as expense/Los exempted under computation of business income sheet.
Any ways we have to show Depreciation as per companies Act in Profit & Loss A/c sheet in ITR.
So do we need to show Actual depreciation+Loss inmethod chage/(Gain In method change of depreciation as Depreciation in ITR or do we need to specifically disclose depreciation & profit/loss on method change seperately in ITR.
N N V Satish & Co.,
Hyderabad
CA Inter
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Goodwin Pumps India Pvt Ltd
Chengalpattu
CA Inter
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Abic and Mani Chartered Accountants
Kottayam
B.Com
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CCI
Pro
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