Thanks Mr. Sanjay S and Mr. Bijay Shreshtha for the ureka of new amendment, though introduced without any bang, and hence requires clarification from department.
Do intimate as and when any information available in this aspect. Thanks once again.
Thanks Mr. Sanjay S and Mr. Bijay Shreshtha for the ureka of new amendment, though introduced without any bang, and hence requires clarification from department.
Do intimate as and when any information available in this aspect. Thanks once again.
@ Dhirajlal Sir and @ Mr. Bijay Shrestha.. Regarding the ambiguity in applicability of the revised rate of depreciation...
I just went through the New ITR 5 (For Firms) & ITR 6 (for Companies) for AY 2017-18. The Schedule DEP (for Depreciation) still maintains the depreciation rates of 80% & 100%.. which only reaffirms our conculsion above... that the amendment applies only from AY 2018-19.
A screenshot of Schedule DEP is given below:
I guess this kind of puts the ambiguity to rest.. I dont think CBDT would be coming out with any clarification since its already this late.
Anyways....This was a really enlightening discussion for me.
CAclubindia
