Can we claim depreciation in case of loss?
This query is : Resolved
02 September 2014
Hello Sir,
I want to know that in one business there is a profit but if we claim depreciation us 32 then there is a loss then tell me can we claim depreciation?
If no then total depreciation is carried forward or to the extent of profit disallowed and carried forward to next year.
I want to know that in one business there is a profit but if we claim depreciation us 32 then there is a loss then tell me can we claim depreciation?
If no then total depreciation is carried forward or to the extent of profit disallowed and carried forward to next year.
03 September 2014
as per sec 32 , you should claim deprecation , as unabsorbed dep can be carried forward for any number of years.
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