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Depreciation
What will happen when wrong depreciation is calculated?
Replies (2)
Quick Summary
1) Depreciated assets value will be wrong .
2) If you show less depreciation Profit will be overstated .
3) If you show more depreciation Profit will be understated .
2) If you show less depreciation Profit will be overstated .
3) If you show more depreciation Profit will be understated .
Hello sir, i have query about depreciation
one of my client shown their 40% Block asset in 15% block because that depreciation is calculating wrong. can i show that asset in 40% in current year ? if i do that then my last closing balance as per return and this opening balance will not match......
how can i correct that?
one of my client shown their 40% Block asset in 15% block because that depreciation is calculating wrong. can i show that asset in 40% in current year ? if i do that then my last closing balance as per return and this opening balance will not match......
how can i correct that?
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