Reply regarding notice u/s 143(1) as payable

This query is : Resolved

Anand Mahadik (Querist)
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03 January 2014 I received Notice u/s 143(1)as payable of Rs. 2850/-

This amount is payable is because of I am not taking the deduction of Depreciation as per Income Tax.

I forgot to enter in ITR Form (I enter Depreciation amount in B/S Schedule) suppose I want to revised the Revised the Return Can I do or Not?

Please Help me..

Contact Details : Email : mahadik.anand@yhaoo.com

Mobile : 9769440245

CA.Chandankumar

CA.Chandankumar (Expert)
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03 January 2014 As per the Explanation 5 to Section 32(1) of IT Act,1961, It is mandatory to claim depreciation in computing the PBGP for any P.Y.
So, Simply you revised the Income Tax Return and claim the depreciation.