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Set off unabsorbed depreciation if 1 return is not filed in between

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111 Points Posted on 19 March 2021
Hello,

FY 2016-17 contains unabsorbed depreciation of Previous year (FY 2015-16).
Now ITR not filed for FY 2017-18.

Can unabsorbed depreciation be set off against profits of FY 2018-19?
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On 19 March 2021 at 14:43 Report
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student
334 Points Posted on 19 March 2021
It's ok. Setoff against 2018-19 income. In rare cases, a notice will be given by Income tax department asking to file 17-18 return. Then u can file. But it's very rare. So don't worry. Adjust ur 16-17 losses with 18-19 income
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On 19 March 2021 at 21:17
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111 Points Posted on 20 March 2021
Okay thank you
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On 20 March 2021 at 09:28
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student
334 Points Posted on 20 March 2021
But make sure there will be no taxable income in 17-18. Because if there income in 17-18, u must set it off against 17-18 income and balance only in 18-19.
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On 20 March 2021 at 09:32


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