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Business loss or unabsorbed depreciation

Anitya ( ) (287 Points)

01 February 2019

Hi members

Please suggest solution to this. Profit before Deprecation - Rs. 2.40 lacs, Depreciation - Rs 4.00 lacs. Now the balance Rs. 1.60 will be business loss or unabsorbed depreciation? How to show this in ITR-3?

Thanks

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8 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 01 February 2019

Unabsorbed Depreciation

2 Like

Anitya ( ) (287 Points)
Replied 01 February 2019

Sir, how it in ITR-3. ITR Utility is taking it as Business Loss and charging late fee of Rs. 1000.00.

A B Kundu (Professional) (1422 Points)
Replied 01 February 2019

This is unabsorbed deprection and you need to fill up the Unabsorbed Depreciation schedule in the ITR.

1 Like

Anitya ( ) (287 Points)
Replied 01 February 2019

Unabsorbed Dep. Sch. is not allowing to enter the amount.

sukanya (Student CA Final ) (45 Points)
Replied 01 February 2019

It will show as Businesse loss only, because there is no separate line item for unabsored depreciation in Sch-CFL of ITR3. In next FY, you just fill that loss in Sch-UD and claim that loss by showing in Sch - BFLA. As per sec. 234F if you have not filed the return within due date and your total income is less than 5Lakhs then you have to pay late fee of Rs.1000/-

1 Like