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Important query and urgent
if a person file his return for 20-21 and in p/l he forgot to show depreciation and not filled dmp/dcg sch but in balance sheet such depreciation is shown and accordingly reduce the capital by amt of depreciation. what are the consequences of it.and how to rectify it.
Replies (2)
You will get a notice! File revised return.
But it will reduce the profit by showing the depreciation and profit is already above.so tax liability will nor increased.
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