19 January 2010
In case of a private limited company, if Income tax return of a particular year is not filed, then whether the depriciation of that year as per income tax can be carried forward to the next year even though the return is not filed.
19 January 2010
If you want to claim depreciation then return needs to be filed compulsorily. If return only not filed then the same will not be allowed to be carried forward as not return is filed.
However belated return can be filed and losses can be carried forward even if late return filed. Here is the discussion on the same. https://www.caclubindia.com/forum/message_display.asp?group_id=58231
19 January 2010
There is no provision in the Act that makes it mandatory for the assessee to a file return for carry forward and set off of unabsorbed depreciation which is to be notified by the AO, as in the case of unabsorbed business loss. If the AO disagrees, seek shelter of circular 8/2001 and file a belated claim with a request to condone the delay in putting up the claim.
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