Setoff and carry forward of unabsorbed Depreciation - (New) Section 33(11) / (Old) Section 32(2)

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....djustment rule • (i) if such profits and gains is not a loss, the deduction under sections 33(1) to (10) shall be allowed to the extent of the available profits and gains; • (ii) if such profits and gains is a loss, no deduction under sections 33(1) to (10) shall be allowed; • Clause (b) Carry forward • the amount of deduction which has not been ....

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....) of the Income Tax Act, 1961 [ From 31.03.2026 ] Set-off of Unabsorbed Depreciation Current year depreciation shall be allowed to be set off against any income assessable for that Assessment Year. Carry forward of Unabsorbed Depreciation Depreciation to the extent not set off shall be carried forward to the next year and set off against the income under any head. Notes: â....

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....hanged in the following situations: i. Firm succeeded by a Company ii. Proprietorship Concern succeeded by a company iii. Amalgamation iv. Demerger v. Amalgamation referred to in Section 72AA vi. Amalgamation and demerger of Co-operative Bank referred to in Section 72AB vii. Company succeeded by LLP. Conditions of set-off of unabsorbed Depreciation: Depreciation has to b....