banner_ad

Unabsorbed depreciation in itr 5

ITR 1363 views 2 replies

Hi..My query is - Loss from busiess after dep is 550000 and eligible dep is 190000. While filing ITR 5 how to disclose the carry forward of unabsorbed depreciation? Whether the same is to be shown as Business Loss under Schedule CFL. Please help.

 

Second query is Do we need to give ITC balances of GST credit in Part A - OI. If yes, is there any impact on taxability or its just for informatiom purpose. The accounts are audited u/s 44AB

Replies (2)
Apart from CFL sheet there is Unabsorbed depreciation sheet.. If due to current year loss the depreciation could not be absorbed then I think just disclose such portion in Unabsorbed depreciation sheet.

In ITR GST ITC credit is a dislosure part but the IT department may compare Turnover disclosed and ITCtaken in actual GST returns filed.

In the schedule CFL the total business loss figure will be reflected and after that you have to put the unabsobed deprecation figure in the respective field.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details