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Re: depreciation

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(Querist)
26 October 2013 assessee not having business income can get the benefit of depreciation on car?
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
26 October 2013 Depreciation cannot be claimed without use of asset in the business...
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ankita

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ankita (Querist)
26 October 2013 What if, in case assessee was having business income in the previous accounting years, but due to some reason no business income is generated in last two previous years,and all the expenses are incurred as it meant to be.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
26 October 2013 Then loss from business and unabsorbed depreciation will be carried forward and will be available for set off when there is profit thus will save tax in that year.
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