banner_ad

Assessment of firm

This query is : Resolved 
Profile Image

Profile Image

(Querist)
06 June 2012 A firm has profit in the current year but it has brought forward business loss & Dep loss from Previous Year.
in this case my doubt is which loss i should claim first from the current year profit.
Profile Image

CA Siddhartha Bhardwaj

Profile Image

CA Siddhartha Bhardwaj (Expert)
06 June 2012 First business loss shall be set off and thereafter unabsorbed depreciation.

The reason being that business loss can be carried forward only for 8 year whereas unabsorbed depreciation can be carried forward indefinately.
Profile Image

honnur vali

Profile Image

honnur vali (Querist)
07 June 2012 thank u very much
Profile Image

CA Siddhartha Bhardwaj

Profile Image

CA Siddhartha Bhardwaj (Expert)
07 June 2012 You are welcome. You should use the thanks button to convey your thanks.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details