Carry forward of unabsorbed depreciation
This query is : Resolved
03 October 2010
hello friends.
we have filed inc. tax return of our client for a.y.10-11 in this month(oct-10)
profit & loss a/c
by sales-400000
to pur-300000
to exp-200000
to dep-15000
net loss=115000
my query is since the return has been filed late the business loss cannot be carried forward, so what is the meaning of unabsorbed depreciation and can the dep be carried forward.
Thanks in advance
we have filed inc. tax return of our client for a.y.10-11 in this month(oct-10)
profit & loss a/c
by sales-400000
to pur-300000
to exp-200000
to dep-15000
net loss=115000
my query is since the return has been filed late the business loss cannot be carried forward, so what is the meaning of unabsorbed depreciation and can the dep be carried forward.
Thanks in advance
03 October 2010
here the profit are less to even absorb the depreciation. the whole amount of dep of rs 15000 is unabsorbed dep & will be carried forward & set off.
03 October 2021
Yes unabsorbed depreciation is allowed to be carried forward, even for belated return filed.
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