Can Depreciation be carried forward if ITR is not filed with due date under section 139 (1)?
Urgent
Can Depreciation be carried forward if ITR is not filed with due date under section 139 (1)?
Urgent
yes only depreciation can carried forward,not business loss
Yes. You can refer
https://www.thehindubusinessline.com/2005/10/08/stories/2005100800331100.htm
yes depreciation can be carry forward without filling of income tax return.
Section 139(3) read with section 80 prohibits carry forward and set-off of business loss and loss under the head capital gain. However said section does not make any reference to section 32 (depreciation). Further section overrides only chapter VI and not section 32
Therefore, Depreciation can be carry forward infinately (till it is completely set-off) , even though return is not filled within the time limit prescribed U/s 139(1)
similarly the said section does not make any reference to carry forward of loss under the head of income from house property. therefore loss under the head of income from house property can also be carry forward, even though return is not filled within the time limit prescribed U/s 139(1)
yes. depriciation can be carry forward in this circumstances
yes only depreciation can carried forward,not business loss
| Originally posted by : A student | ||
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yes only depreciation can carried forward,not business loss |
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Yes depreciation can be carried forward even if return is not filed this is because of that the provision of carry forward has been contained in section 70 To 74A.and As per section 139 only losses covered under these section cant be forwarded while Depreciation is covered by section 32.
hence Depreciation can be carried forward even on non filing of depreciation.
Yes agree will all that depriciaton can be carried forward.
It is also agreed by the High court in the Haryana Hotl vs CIT case.
yes only depreciation can be carried forward.
yes depreciation nd house property loss carry forward without filing of income tax return ,,,,,,
yeah, depreciation can be carry forward without filing the IT return within the due date..but business loss cannot be
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