Carry forward of Depreciation

Tax queries 4960 views 12 replies

Can Depreciation be carried forward if ITR is not filed with due date under section 139 (1)?

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Replies (12)

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

yes only depreciation can carried forward,not business loss

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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