Depreciation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 May 2012 I am doing audit of a particular company, while calculating depreciation they have done many mistakes in pervious year like,

1) They were charging 15% to a particulars machinery which they give on rent whose actual depreciation rate is to be charge 30%.

2) Thet sold Honda city car in 2009-10, they passed entry in their books but fail to gave effect of sale of assets in ITR.

What are the ways to solve such errors? Company doesnt want to fill revised ITR?

Guest

Guest (Expert)

04 May 2012 You can correct this mistake in the current year with retrospective effect in case of depreciation and sale of car