B/f losses and unabsobed dep for mat
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 June 2013
Dear All,
I have a quary, can you please help me to get correct numbers of b/f losses or ubabsorbed depreciation whichever is less for mat purpose by the working of the profit & loss as given below;
F Year
Loss before dep./(Profit)
Unabsorbed dep
2001-02
17
2
2002-03
-5
0
2003-04
-36
0
2004-05
-12
0
2005-06
4
7
2006-07
1
7
2007-08
62
7
2008-09
44
8
2009-10
19
7
2010-11
-35
0
Or can you please confirm profit in net of earlier years i.e. from FY 2001-02 to 2003-04 would be set off against losses of future year.
As per my understanding Unabsorbed Depreciation in that situation would be Rs.36/- start from FY 2005-06 and balance will be loss.
I have a quary, can you please help me to get correct numbers of b/f losses or ubabsorbed depreciation whichever is less for mat purpose by the working of the profit & loss as given below;
F Year
Loss before dep./(Profit)
Unabsorbed dep
2001-02
17
2
2002-03
-5
0
2003-04
-36
0
2004-05
-12
0
2005-06
4
7
2006-07
1
7
2007-08
62
7
2008-09
44
8
2009-10
19
7
2010-11
-35
0
Or can you please confirm profit in net of earlier years i.e. from FY 2001-02 to 2003-04 would be set off against losses of future year.
As per my understanding Unabsorbed Depreciation in that situation would be Rs.36/- start from FY 2005-06 and balance will be loss.
28 June 2013
The business loss of all the above years has to be summed up. Likewise the depreciation of all the years also has to be summed up. Then equate and least of the above may be deducted from the book profit.
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 July 2013
Thanks for your reply, but some consultant is suggesting that we should take net figures after adjustment of previous years profit. Means a consolidated figure of earlier year profit and loss of next years.
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