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set of depreciation and carry forward
I have profit of 1800000 from business profession after change all expenses except depreciation but also. have depreciation amount 2050000 then what do now please reply me
Replies (7)
How you calculated depreciation as per rules 5(1) and Appendix I of the Income tax rules . Is the amount is correct ?
If such is your department then it will be deducted in order to calculate profit.
Unabsorbed depreciation of Rs. 2,50,000 will carried forward to next year and deducted while computing income of next year.
I agree with @ Rishi.
dep not 2,50,000
20,50,000
20,50,000
Just deduct depreciation to the extent of profit of the current year and remaining depreciation is called unabsorned depreciation. In Your case unabsorbed depreciation is 2,50,000 (i.e. 20,50,000 - 18,00,000)****************************************************************************************************************************************
@ Rahul, yaa...yaa..
see..
Dep.20,50,000, profit before dep. 18,00,000.
therefore u can claim only 18,00,000 dep. in current year.
so, unabsorbed dep.(20,50,000 -- 18,00,000) 2,50,000 shall be c/f to next year & it can be c/f indefinitely due to inadequacy of profits in any year.
see..
Dep.20,50,000, profit before dep. 18,00,000.
therefore u can claim only 18,00,000 dep. in current year.
so, unabsorbed dep.(20,50,000 -- 18,00,000) 2,50,000 shall be c/f to next year & it can be c/f indefinitely due to inadequacy of profits in any year.
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