30 March 2021
SIR- I am an individual transporter and have 77 trucks. Due to depreciation loss, net loss have been accounted in P& L Account. Due to the capital loss, My capital balance is also in Loss. Besides, I delayed in filing of ITR for 19-20. I have filed ITR only on 31-03-2021. My doubts are, 1- Can I carry forward the depreciation loss to the next year? 2- Can I adjust the capital loss with the future profits?
CAclubindia
