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ITR F.Y 2022-23

Dinesh@123 (Account Executive) (66 Points)

13 June 2024

Can I file ITR for F.Y 2022-23 now?
and what is the conditions?

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4 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (193972 Points)
Replied 13 June 2024

Yes, you can file Updated return u/s. 139(8A) for AY 2023-24, provided there is any tax liability.

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MPR Sanjay Kumar (3145 Points)
Replied 13 June 2024

@ Honourable dhirajlal rambhia sir , how to put depreciation chart schedule for individuals and corporates??

Any formats proforma

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (193972 Points)
Replied 13 June 2024

The main goal of a depreciation schedule is to give you the ability to track what depreciation you've already recognized and stay on top of your finances.

Typically, the depreciation schedule format will be as follows:

Name and descripttttion of the asset, e.g: Property & Equipment
Date of purchase
Cost of the asset
Estimated/expected useful life
Salvage value/residual value, which is the estimated value that a fixed asset will have at the end of its useful life. Sometimes, the residual value may equal zero, in which case the value isn’t taken into account.
Current year depreciation
Accumulated depreciation, which is the total amount an asset has been depreciated up until a certain year or point.
The depreciation method used. According to the Generally Accepted Accounting Principles (GAAP), you can choose from four depreciation methods: straight-line method, double-declining balance, sum-of-the-years’-digits, and units of production.
Net book value, which is the price at which a business records an asset on its balance sheet.