B/f losses and unabsobed dep for mat

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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.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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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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