Carry Forward & Set off of Busines Losses & Depreication
This query is : Resolved
01 January 2011
We have unabsorbed depreciation and business loss for A.Y. 2005-06 and the same return was submitted in due time. Now the same unabsorbed loss and depreciation was adjusted in A.Y. 2008-09 from business profits but the return was submitted belatedly. give opinion towards set off in AY. 2008-09 and balance eligible for carry forward with reference to belated return for AY 2008-09.
01 January 2011
Yes carry forward loss can be set off against return filed belatedly.
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