04 March 2011
Dear Experts: 1. A company incurred a loss of Rs. 1o lacs, but the company has not filed its return of income in time. Hence it cannot carried forward the loss. Next year, the company filed the return in time, and willing to transfer the loss of Rs. 10 lacs. Whether it can do? 2. Additional Depreciation on P&M @ 20% is allowed every year or allowed only in the year of purchase of eligible P&M?
CAclubindia
