- Treatment for Current year Depreciation:
- Treatment for unabsorbed depreciation:
- Unabsorbed depreciation of current previous year shall be added to following previous year’s depreciation.
- It can be set-off against any head of income.
- It can be carried forward to any no. of years until it is fully set-off.
- In case of carry forward of business loss or speculation loss, the set-off shall be done after setting off current depreciation and such loss.
- Continuity of business: Continuity of business is not relevant for set-off and carry forward.
- Carry forward of depreciation: Depreciation can be carried forward by the same assesses except in case of Amalgamation, De-merger, and business Re-organization.
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