Depreciation clossing b/s
This query is : Resolved
27 October 2014
my query is when we dissallow depreciation for personal use of car the amount which is dissallowed is added to clossing b/s or not ...if yes than uder which sec. e. g. car op. 100000 . 15% dep. I.e 15000 20 % disallowed I.e 3000 than what should be the clossing b/s..? is it 85000 or 87000 ..?
27 October 2014
your closing balance should be as per you accounting and not as per income tax depreciation amount.
So closing balance should be Rs.85000
So closing balance should be Rs.85000
27 October 2014
yes, it must be 85000.
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