05 February 2010
a person have income from other sources i.e. car rent income also he has claimed depreciation on the car whihc is in excess of income can he c/f to upcoming years as it is possible in business income for unlimited years
05 February 2010
In case you are claiming depreciation and receiving rent on car, this should be your business income and sec 44AE will apply. in this case if you are claiming loss than you have to audit your books or have to surrender minimum income as per 44AE
CAclubindia
