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Querist : Anonymous (Querist)

19 November 2014 what are difference between brought forward loss and unabsorbed depreciation. and why business loss and unabsorbed depreciation is created.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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19 November 2014 1. Business loss arises when expenses exceed the income.

2. Unabsorbed depreciation means that depreciation has exceeded Income less expenses.

3. Business loss can be carried forward for 8 Assessment years whereas unabsorbed depreciation can be carried forward indefinitely.

4. Brought forward business loss can be set off only from business income, whereas unabsorbed depreciation can be set off from any income.

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