For how many years "Unabsorbed Depreciation" can be carried forward?
14 Replies
CA Manish K Dhoot
(CA, B. Com, NCFM, CPCM)
(5015 Points)
Replied 05 June 2010
Unabsorbed dep. can be carried forward for indefinite period..
CA.G.Muguntha Narayanan
(Internal Auditor at TVS Motors)
(2195 Points)
Replied 05 June 2010
I go by the answer of Manish. There is no specific time limit for the carry forward of unabs. dep.
Jagdish Bhalia
(Practicing CA)
(453 Points)
Replied 05 June 2010
No specific time limit for unabsorbed depreciation so it can be carried forward for indefinite periods.
Max Payne
(employed)
(2574 Points)
Replied 05 June 2010
The limit of eight consecutive Assessment years immediately following the year in which loss is incurred,
does not apply to unabsorbed depreciation.
Because sec 76 covers only restriction on the limit to carry forward business loss.
Unabsorbed depreciation is infinitely carried forward on plain reading of sec 32.
I think there was some case of Virmani industries ltd which has given us this principle...
CA Devanshi Gandhi (Ajani)
(FCA DISA Mcom CIFRS & LLB)
(9060 Points)
Replied 05 June 2010
infinite period
CA Mohit Agrawal
(Chartered Accountant)
(371 Points)
Replied 05 June 2010
not limit for time period to set off.
CA Bhupinder Arora
(Accounts Executive)
(76 Points)
Replied 05 June 2010
As per Section 32(2) Unabsorbed Depreciation can be carry forward indefinite period.
CA PuRvI M!$rA
(-)
(2260 Points)
Replied 05 June 2010
| Originally posted by : Bhupinder | ||
 |
As per Section 32(2) Unabsorbed Depreciation can be carry forward indefinite period. |
 |
agree ......der is no time limit for c/f of dep.........
Mayank Saraogi
(Learner)
(170 Points)
Replied 05 June 2010
yup as said above n 1 more thng
adjust business loss if its ther along with unabsorbed depriciation becoz
loss can be carry forwarded to only 8 yrs
Karan Thacker
(CA)
(117 Points)
Replied 06 June 2010
As per section 32(2)(b) says that unabsorbed depriciation can be carried forward only for 8 years,it can be set off for infinite period only if the company is declared as sick company by BICR.
Sandeep Arora
(Learner)
(139 Points)
Replied 08 June 2010
depreciation can be carry forward for indefinite period.
In the view of judgement of Haryana Hotel Ltd.( punjab & haryana HIgh Court) held that depeciation can be carry forward for any assessment year.
CA. jalpesh vaghela
(B.COM, F.C.A)
(112 Points)
Replied 08 June 2010
SIMPLE YAR......................no LIMIT FOR c/F
Sunshine
(Helping All)
(10575 Points)
Replied 11 June 2010
yup..it can be carried forward fr a lifetime......no limit nd can be set off against any head....
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