set off carry forward

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AMIT AGGARWAL (Querist)
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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

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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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.

AMIT AGGARWAL

AMIT AGGARWAL (Querist)
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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.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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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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