set off carry forward
This query is : Resolved
AMIT AGGARWAL
(Querist)
15 October 2008
can any one tell me what is the order in which carry forward losses & unabsorbed depecition are treated,whether current year losses are first treated or previous year
15 October 2008
Priorities for carry forward and set off is as follows:-
1)current scientific research of capital exps.
2)current depreciation
3)brought forward business/profession losses.
4)unabsorbed family palanning promotion expenditure.
5)unabsorbed depreciation.
6)unabsorbed scientific research capital exps.
7)unabsorbed development allowance.
8)current development allowance.
9)unabsorbed investment allowance.
10)current investment allowance.
1)current scientific research of capital exps.
2)current depreciation
3)brought forward business/profession losses.
4)unabsorbed family palanning promotion expenditure.
5)unabsorbed depreciation.
6)unabsorbed scientific research capital exps.
7)unabsorbed development allowance.
8)current development allowance.
9)unabsorbed investment allowance.
10)current investment allowance.
AMIT AGGARWAL
(Querist)
22 October 2008
sir, its ok,but what about other heads. The answer u have given is of only PGBP head.please reply at the earliest.
03 April 2012
There is no prescribed method. It is preferable to set off brought forward losses first and then current year losses.
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