Dear friends
i have a query regarding Dep.
Assets purchased (15%) on 01/04/2012 Rs. 10000/-
Dep. Claim for 9 month i.e. Rs. 1125/-
Balance as on 31/12/2012 is 8875/-
Date of sale is 31/12/2012 for Rs. 8900
and file ITR with closing balane of assets is nil because all the assets have been sold.
but when processing the ITR u/s 143 (1) AO treatment is as follows
assets purchase Rs. 10000
Sale Rs. 8900
Balance 1100
Dep. on 1100/- @ 15% Rs. 165
Closing balance WDV 935/-
What to do in this case. how it can be rectified
CAclubindia
