balance sheet as on 31/03/19
liabilities. assets
creditor 10 lac car 10 lac
balance sheet as on 31/03/2020
liabilities. assets
creditor 10 lac. car 10 lac
less dep 1 lac = 9l
what is the problem here ??
I still did not get if 100% can Be claimed on depreciation and thanks to everyone for keeping tax aspects to themselves. Anyways, since I’m a genius in accounting,
there is no problem with the above philosophy because depreciation of 1 lakh will reduce liabilities by one lakh, that is if one can claim 1 lakh claim.
that is just a theory
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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CAclubindia
