How to show Disallowed Depreciation in Income Tax Return

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Bunty Sharma (Querist)
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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

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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22 October 2017 Which return you are filing?????

Bunty Sharma

Bunty Sharma (Querist)
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22 October 2017 ITR-3 for the AY 2017-18 (Tax Audit Applicable)

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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22 October 2017 Show in Column 7(c) of Part-OI.

Bunty Sharma

Bunty Sharma (Querist)
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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

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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22 October 2017 You cant claim it as same is not used for business purpose

Bunty Sharma

Bunty Sharma (Querist)
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22 October 2017 Ya exactly the point depreciation is not allowed if used no

Bunty Sharma

Bunty Sharma (Querist)
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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?

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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22 October 2017 No actaully same depreciation deducted from your rental income....

Bunty Sharma

Bunty Sharma (Querist)
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22 October 2017 Mam I think u have posted wrong reply on wrong post

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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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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