Unclaimed depreciaiton

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JDKLFJDSGJ
27 Points Joined January 2011

A partnership firm had not written off depreciation in the books of A/c due to insufficient  profit for the year 2009-10. Can they claim the unclaimed deprecitaiton of 2009-10 in the current year 2010-11 along with the current year's depreciation?

i referred the ready reckoner , which says"depreciation will be allowed, if due whether it is claimed or not by the assessee'

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On 11 January 2011 at 12:41 Report
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“It's hard to beat a person who never gi
20173 Points Joined December 2010

yes it can be claimed but only to the extent income is availble under the head business profession

thanx...!!!

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On 11 January 2011 at 12:43
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Chartered Accountant
14243 Points Joined February 2009

yes, as per explanation 5  to section 32 depreciation will be allowed, if due whether it is claimed or not by the assessee'

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On 11 January 2011 at 13:06
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Depreciation is to be claimed irrespective of the Profit.

So in case, if assessee has not claimed the same, it is deemed to be claimed.

As a result, in the year 2010 – 2011, depreciation will be allowed for the current

as well as for the year 2009 – 2010.

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On 11 January 2011 at 17:27
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Life Is just an Illusion...!!
4573 Points Joined August 2010

It refers to set off and set on and its provisions says that business loss can be carried forward till 8 years (4 in case of others) and deprecation loss can be claimed upto N years...

every entity irrespective of profits has to claim depreciation as calculated by the provisions of sec 32.

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On 22 January 2011 at 16:28


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