Unabsorbed depreciation
This query is : Resolved
Karan Goyal
(Querist)
08 July 2016
Hello,
My net profit before dep. is Rs 10 Lacs and Dep. is Rs 42 Lacs. Now my question is can I show Rs 10 Lacs as profits and claim all the depreciation as unabsorbed depreciation or I had to Set off Rs 10 Lacs of profits with depreciation and claim the balance as unabsorbed depreciation ?
Thanks.
My net profit before dep. is Rs 10 Lacs and Dep. is Rs 42 Lacs. Now my question is can I show Rs 10 Lacs as profits and claim all the depreciation as unabsorbed depreciation or I had to Set off Rs 10 Lacs of profits with depreciation and claim the balance as unabsorbed depreciation ?
Thanks.
Amol S Joglekar
(Expert)
08 July 2016
under Income Tax, the set off is automatic. One can not deny
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08 July 2016
Set off and claim balance as unabsorbed depreciation.
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Karan Goyal
(Querist)
10 July 2016
thanks for the help...
Amol S Joglekar
(Expert)
11 July 2016
you are most welcome.
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