A sole prop concern has not claimed depreciation on building for many assessment years.
Can it claim all in the current year ?
Menu
Depreciation on building not claimed for many years
Replies (11)
no, This all cannot be claimed in this year. As depreciation claim is mandatory in nature. So it shall be deemed to have been allowed in earlier years also.
You can claim the depreciation on the Written down value after charging notional depreciation till now.
You can claim depn... but only if you are using it for business..
Agreee wid mr chandar n mr kartik
Agreee wid mr chandar n mr kartik
so can i revise my previous year returns?
so can i revise my previous year returns?
so can i revise my previous year returns?
n yes the building in question is an office block
Yes u can revise ur return if original is filed on time and u should claim on wdv basis and after charging notional depreciation for earlier years as per explanation to Section 32
as per section 139 (5). the return can only be revised if the original return has been filed well in time. Late return cannot be revised. The return can be revised with in 1 year from the end of the relevant assessment year or before the completion of assessment which ever is earlier.
Returns uptil what Fy can be revised?
Recent Threads
- Reverse charge .can transport company collect Rev
- LTCG-LOSS ON SALE OF EQUITY SHARES
- Exploring E-Invoicing and Automation: Transforming
- Tax Filing 2026
- Best CA Inter Costing classes
- Best CA foundation classes
- Best CA coaching in Laxmi Nagar
- TDS on DDA Flat Purchase
- Can CA Foundation be done without coaching
- Department issue notice to client to pay TC
Related Threads
CAclubindia
