setoff of unabsorbed depreciation
This query is : Resolved
J.RANGASWAMY
(Querist)
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
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.
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