Sec 10A
This query is : Open
04 March 2009
Plz let me know whether the set off of earlier years' losses should be before availing the exemption u/s 10A or after that against the current year profits? Thank you.
05 March 2009
impact of claiming deduction U/S 10 A :
the losses U/S 72(1) or 74(1) or 74(3)even, unabsorbed dep. unabsorbed capital epx. on scientific research or family planning (pertaining to the AY 2000-01 or earlier years) are not allowed to be carried forward in AY suceeding the period of deduction. the deductions U/S 80IA or 80IB shall also not be available to such undertaking after the expiry of tax holiday period.
Adjustment U/S 70 and 71 is not prohibited.
i think once u have opted for Section 10A than set off and carry forward is not possible.
awaiting reply from other experts.
the losses U/S 72(1) or 74(1) or 74(3)even, unabsorbed dep. unabsorbed capital epx. on scientific research or family planning (pertaining to the AY 2000-01 or earlier years) are not allowed to be carried forward in AY suceeding the period of deduction. the deductions U/S 80IA or 80IB shall also not be available to such undertaking after the expiry of tax holiday period.
Adjustment U/S 70 and 71 is not prohibited.
i think once u have opted for Section 10A than set off and carry forward is not possible.
awaiting reply from other experts.
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
- TDS 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- Gift Received from nonblood relative
- Foreign lottery ticket bought online from India: legality, tax and consequences
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Section 50-fixed asset-->building ceases to exist
- Putting a heading on received mail
- Regime change
- Consolidated financials
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
