Business loss set off

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 January 2014 Hi

Is business loss set off against long term capital gain. What about unabsorbed depreciation loss.

Thanks in advance

@VaibhavJ

@VaibhavJ (Expert)
Follow

02 January 2014 Hi

Yes you can!

Pl refer for more details:

https://taxpeople.in/Set_Off_And_Carry_Forward_Of_Loss.html

Thanks

Querist : Anonymous

Querist : Anonymous (Querist)

02 January 2014 Hi

What about carry forward business loss can it be set off against long term capital gain

Gayathri Devi

Gayathri Devi (Expert)
Follow

02 January 2014 The carried forward business loss can be adjusted only against the business income not under any other heads of income.

Message likes : 1 times

Gayathri Devi

Gayathri Devi (Expert)
Follow

02 January 2014 The carried forward business loss can be adjusted only against the business income not under any other heads of income.

@VaibhavJ

@VaibhavJ (Expert)
Follow

02 January 2014 Yes agree with expert!

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

09 October 2021 Business income loss cannot be adjusted against long term capital gains.
Un-absorbed depreciation loss should be carried forward for adjustment against any business income upto next 8 years.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

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

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Jayesh Pipalwa

Namita Fule

DSK TMC

6380177036

ASIM ATREY AND ASSOCIATES

Subscribe Now

Business loss set off

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accounts Executive

Account & Audit Asst

Audit executive

Fundraising Expert

ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

Post office

Senior Accountant cum purchase Manager