setoff of unabsorbed depreciation

This query is : Resolved

J.RANGASWAMY (Querist)
Follow

14 December 2009 can we set off the carried forward unabsorbed depreciation relating to assessment year 1999-2000 in the assessment year 2005-06 against income from other sources under section 32(2) of the income tax act,1961 after setting off unabsorbed business loss to the extent possible

RD Verma

RD Verma (Expert)
Follow

14 December 2009 unabsorbed depreciation can set-off any head of income and also carry forward and set-off against any head (exept salary) of any year.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok