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Capitalisation

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(Querist)
16 June 2020 Patership firm started in 18-19 but there is no business .but they have spent lot of expenses .so we decided to capitalise and charge depreciation.so unabsorbed deprecation we can carry forward even though return file after due date.is it ok l.ast date to return file June 30 th.is the treatment is correct
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c.bakshi

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c.bakshi (Expert)
16 June 2020 yes unabsorbed dep. can claimed in the year when there is profits and can be carry forwarded until the full money is utilized.
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