Unabsorbed depreciation allowance

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 September 2014 WE are private limited company. We have regularly filed income tax returns. We have claimed SET OFF from the unabsorbed loss of P.Y. in the F.Y. 12-13. We have in the SAME financial year (i.e. 12-13) have not claimed depreciation in the computation of income.
Now the question is whether the depreciation for the F,Y, 2012-13 CAN BE taken as unabsorbed depreciation over and above the unabsorbed depreciation of Previous Year; even if the depreciation table is not shown in the computation of that year.
We are following WDV method for calculating depreciation.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

22 September 2014 ideally you should have provided for the depreication for the current year before setting off past losses..

regardless not claiming depreciation doesnt cause any problem as it is to be anyways provided by the AO (compulsory). However, the net effect will be that, depending upon the profit left after setting off of past losses, the depreciation for the current year would be assumed to be have been claimed and past losses will remain carried forward

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

mahendra zaveri

sachingurav

velichety.l.narasimharao

Mukund Thakur

shubham agrawal

Subscribe Now

Unabsorbed depreciation allowance

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

CA Final

Senior Executive

Manager- Finance and Compliance

Accountant

GST CONSULTANT