How to show Disallowed Depreciation in Income Tax Return
This query is : Open
22 October 2017
Hey!! I want to know that how to show depreciation disallowed u/s 38(2) in IT return, as, in IT return, I found no such option even depreciation is auto computable means we cannot just put the correct amount of depreciation there also.
So, will anybody guide me on the same.
Thanks
22 October 2017
Which return you are filing?????
22 October 2017
ITR-3 for the AY 2017-18 (Tax Audit Applicable)
22 October 2017
Show in Column 7(c) of Part-OI.
22 October 2017
So, how would we claim depreciation on disallowed depreciation in later years, as by showing it in column 7(c) it will not credit back to Asset a/c
22 October 2017
You cant claim it as same is not used for business purpose
22 October 2017
Ya exactly the point depreciation is not allowed if used no
22 October 2017
Ya exactly the point, as per 38(2), such amount of depreciation is not allowed which is not used exclusively for business purpose, means such amount of depreciation is available for later years, right?
22 October 2017
No actaully same depreciation deducted from your rental income....
22 October 2017
Mam I think u have posted wrong reply on wrong post
23 October 2017
Ohh sorry......
I mean depreciation not used for business purpose is not allowed in further year also as assets used by you for full......
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