Depreciation loss
This query is : Resolved
28 June 2010
one of our client has set off current year depreciation loss against STCG (taxable @ 15%).
so my query is wheather current year depreciation loss can be sett off against STCH( shares and MF) where business profit is not sufficient to absorb it fully.they have charged it @ 15% on the net amount i.e. after deducting depreciation.
with regards
Raaj
so my query is wheather current year depreciation loss can be sett off against STCH( shares and MF) where business profit is not sufficient to absorb it fully.they have charged it @ 15% on the net amount i.e. after deducting depreciation.
with regards
Raaj
28 June 2010
Depreciation loss can be set off against any income for the year and of future year also.
So treatment of ur client is correct.
So treatment of ur client is correct.
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