unabsorbed depreciation
This query is : Resolved
21 August 2010
can we carry fwd unabsorbed dep. to set off against futre income if there is change in constitution of firm?
21 August 2010
yes... there is no bar on carry forward of unabsorbed depreciation.
21 August 2010
In case of change is constitution restriction to carry forward is for loss vide section 78 of the Income tax Act,1961. Therefore, I understand that, depreciation being an allowance, it can be fully carried forward with out the restriction contained in the above referred section.
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