what is unabsorbed depreciation?

Page no : 2

sivaram (Sr. Accounts Executive) (104 Points)
Replied 25 September 2015

Depreciation is a dininishing to the asset,for ex:car purchased in first year after 2 or 3 years its stamina and capacity will reduce automatically it is nothing but deprecaiation .For this Companies act schedule xiv describing the assets life for different assets.

Thanks...

KISHORE KUMAR (ARTICLED STUDENT) (22 Points)
Replied 23 September 2018

Sir, A partnership Firm carrying construction business having huge unabsorbed depreciation,but it can't File any I. T. returns from its incorporation. Can I claim such unabsorbed depreciation now?

Ayush (Executive ) (6132 Points)
Replied 27 July 2023

If the partnership firm has been unable to file any income tax returns since its incorporation, it may not be able to claim the unabsorbed depreciation now. The ability to carry forward and claim unabsorbed depreciation typically requires the filing of income tax returns within the specified timeframes.

NARENDRA (ACCOUNTS MANAGER) (1486 Points)
Replied 28 July 2023

If any firms did not take depreciation in the previous itr by mistake ....... are they able to get it now such unabsorbed depreciation ................ ............ ??