I am updating ITR-6 of a company. I have updated the details of losses to be carry forward but didnt find the place ffor updating figures of unabsorbed depreciation under Income Tax Act. Where should i update the figure of carry forwarded unabsorbed depreciation ?
4 Replies
CA Navin Jain
(MANAGER (FINANCE & ACCOUNTS))
(11768 Points)
Replied 21 September 2010
there is no separate option of carry forward to unabsorbed depreciation in ITR SO THAT IT WOULD BE INCLUDED IN BUSINESS LOSS
Gayathri
(Dy Manager finance)
(27 Points)
Replied 22 September 2010
Can u help me... In ITR 6 for AY 10-11, Carry forward losses in CFL Sheet is not considering set off of Short term capital gains or other sources income to be set off for the current year.. it is setting off only business losses.. as time line is near by pls post ur replies asap
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 22 September 2010
In the same year business loss can be set off against gains from other heads whereas from future years only business profit can set of the carried forward loss and not short term capital gains.
Gayathri
(Dy Manager finance)
(27 Points)
Replied 23 September 2010
but in sec 32, unabsorbed depreciation loss can be set off against any head of income... right?
ON ITR 6 - Online upload form CFL sheet is not setting off other sources income of current year from previous year losses.. but the same has been adjusted in previous year ITR 6 for AY 09-10
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