20 December 2021
WHETHER THE BROUGHT FORWARD LOSSES AND UNABSORBED DEPRECIATION CAN BE UTILISED FOR SUBSEQUENT YEARS IN NEW TAX REGIME. INTIMATIONS COMING UNDER INCOME TAX ACT FOR CLAIMING BROUGHT FORWARD LOSSES AND DEPRECIATION UNDER NEW TAX REGIME. DO ANYBODY FACING THIS ISSUE?
21 December 2021
Section 115BAA restricts claiming of brought forward loss and unabsorbed depreciation on account of specific sections of the Act only (whether intentional or not). Hence, it can be inferred that normal business loss and unabsorbed depreciation can still be claimed by a company and there is no need to forego the same.
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