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Set off of previous year business losses

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(Querist)
11 August 2011 Hi,
Could some body let me know, what is the amount of losses which can be set off against current year profits for calculation of tax payble for a domestic comapny. We have Business depreceiation loss + Ordinery business loss. Is it only business loss can be claimed or is it the total?
Thanks in advance..
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CA Ashwani Agarwal

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CA Ashwani Agarwal (Expert)
11 August 2011 Both can be claimed.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
11 August 2011 The following priorities in the c/fd and set off has to be observed:-
i) b/fd business loss - section 72(1).
ii)unabsorbed depreciation - section 32(2).
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
11 August 2011 right said by BC Sir... :)
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