Depreciatiin disallowed last AY can it be claimed this year?
This query is : Open
Ashwin Kumar Prabhakar
(Querist)
29 May 2017
Last AY 2016-17, depreciation was disallowed as it was not filled up in the schedule DEP in ITR 4. can it claimed this AY as unabsorbed depreciation?
CA Mohit Kumar
(Expert)
29 May 2017
Depreciation is allowed to each assessee compulsorily u/s 32. If the assessee does not claim the same, it is "a mistake apparent from record" .
Two option is available.
1. You may revise the return if filed within the due date.
2. If not then apply for rectification u/s 154.
Further , for your information Unabsorbed dep arise only when inadequate profits in the business and not in other case...
Ashwin Kumar Prabhakar
(Querist)
29 May 2017
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