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set off & carry forward ofdepreciation

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(Querist)
04 July 2008 Dear Sir/Mam

i am pcc student please clear the point set off & carry forward depreciation in same year & following year.

in waiting
vaibhav
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Late CA Sampat Jain

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Late CA Sampat Jain (Expert)
04 July 2008 DEPRECIATION FOR A YEAR IS ABSORBED IN THAT YEAR TO THE EXTENT OF PROFITS AVAILABLE.THE BALANCE IS UNABSORBED DEPRECIATION.

BY LEGAL FICTION THE UNABSORBED DEPRECIATION BECOMES PART OF CURRENT YEAR DEPRECIATION OF SUBSEQUENT YEAR ......

AND THE STORY GOES ON
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