Tax depreciation
This query is : Resolved
02 October 2008
For FY 2000-01 (AY 2001-02), the carry forward of unabsorbed depreciation was restricted to 8 years. A Company X has an unabsorbed depreciation of Rs 2 cr for FY 2000-01 which is supposed to lapse in FY 2008-09.
Now I have received an opinion that such unabosorbed depreciation for FY 2000-01 would not lapse since the law has been changed before this carried forward depreciation has lapsed. Is this opinion okay?
Thanks, S S Roy
Now I have received an opinion that such unabosorbed depreciation for FY 2000-01 would not lapse since the law has been changed before this carried forward depreciation has lapsed. Is this opinion okay?
Thanks, S S Roy
02 October 2008
For FY 2000-01 (AY 2001-02), the carry forward of unabsorbed depreciation was restricted to 8 years. A Company X has an unabsorbed depreciation of Rs 2 cr for FY 2000-01 which is supposed to lapse in FY 2008-09.
Now I have received an opinion that such unabosorbed depreciation for FY 2000-01 would not lapse since the law has been changed before this carried forward depreciation has lapsed. Is this opinion okay?
Thanks, S S Roy
Now I have received an opinion that such unabosorbed depreciation for FY 2000-01 would not lapse since the law has been changed before this carried forward depreciation has lapsed. Is this opinion okay?
Thanks, S S Roy
CA V. Mohanakrishnan
(Expert)
02 October 2008
as it is understood the time exists
03 October 2008
Response unclear. Please provide your comprehensive views with appropriate logical/ legal interpretation.
S S Roy
S S Roy
04 April 2012
Now this depreciation can be carried forward indefinately.
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