Set off
Querist : Anonymous
please also tell me how to represent the answer of set off to get good marks.
Querist : Anonymous
But in some books unabsorb dep. is not set off.
please also tell me how to represent the answer.
Unabsorbed loss becomes the part of the depreciation of subsequent year and as such
its head does not changes and it remains under the head Business & Profession.
U/s 71(2A) it has been provided that loss under the head of business and profession can not be set off against Salary Income.
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