unabsorbed dep.
This query is : Resolved
Guest
Guest
(Querist)
05 November 2009
CAN UNABSORBED DEPRECIATION BE SETOFF against the income under the head "SALARY" and the income from winnings,lotteries n puzzels,etc.?In forum we disscused alot but still there is divergence in the opinion.So,plz.make it clear.
05 November 2009
No. Unabsorbed depreciation can not be setoff against salary income and income from lottery in any case. There is clear cut language prescbibed in section 32.
There is no dispute regading the set off. It has been also upheld by various court decesions.
There is no dispute regading the set off. It has been also upheld by various court decesions.
05 November 2009
Agree with expert
05 November 2009
unabsorbed dep. can not be sett off against salary income as well as casual income
05 November 2009
No, unabsorbed depreciation can neither be set off against salary income nor against income from winnings,lotteries n puzzels,etc
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