Income Tax
This query is : Resolved
03 April 2010
can unabsorbed depreciation can be setoff against salary income?
03 April 2010
NO.
03 April 2010
but many say that busines loss cannot be setoff on salary but unabsorbed depreciation can be done against it .is there any case law or facts supporting your views please
03 April 2010
i think yes
03 April 2010
No.sec.32(2) Unabsorbed depreciation can be set off any other income except Salaries.so in this case I agree with Mr.Sanjay
03 April 2010
i corrected myself, sec.71 of income tax act says that business loss (includs Unabsorbed depreciation) can not be set- off against salary income.
04 April 2010
RAMESH JI THANKS FOR YOUR ACCEPTANCE.
05 April 2010
agree with expert
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Multiple trade mark
- Transporter Declaration form
- Regarding TDS Applicability For Director Remuneration
- LC charges in relation to Asset purchased should be Capitalised ?
- Value of property in capital gain
- Regarding appeal to GSTAT
- Copyright software
- Invoice V/S Goods receipt Note Date
- Form 121 & TDS deduction
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
