my client is a professional. his balance sheet includes personal fixed asset (house property) on which no depreciation is claimed as its used for personal use.
my query is
1) in 3cd clause 18 , do i have to show only those fixed assets on which depreciation is claimed (i.e exclude house property)
2) but in ITR i will have to include house property . otherwise my balance sheet will not tally.
by doing so , wdv of fixed assets will be different in ITR and 3CD.
Is this correct??
pls guide
Yes .... in 3cd ... clause 18 required depreciation charged ..so non depreciable assets not show in clause 18 ... but itr required asset value ... both requirements are different
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CAclubindia
