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 .
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?
CAclubindia
