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set off carry forward

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(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
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
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.
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AMIT AGGARWAL

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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.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
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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