Question ID : 21535

082701

A cooprative society is not maintaining proper Fixed assets register but approximate depreciation amount is being debted to profit and loss account. In ITR depreciation debted in added to net profit and Net profit increases As Exact depreciable amount is not available Fixed assets details are not being filled in ITR to get allowable deduction of Depreciation Can Deductionb under sec 80 P be increased to bring taxble profit as nil or tax has to be paid on depreciation amount debted treating alloawable depreciation as nil

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