IS UNABSORBED DEPRRECIATION CAN BE SETOFF FROM SALARY OR NOT

under sec 57 ,it is made clear that which deductions are allowed(incl.dep 32(2)) and again under sec 58(4) it is said which are not permissible(includes sec 57)..Hence,it can be concluded.

ya fine neha.....

it is clear now.

thanks for ur view.

yes unabsorbed dep can be set off from salaries

it can not be set-off yaar.

go and read sec-32(2)

kahani mein naya twist.....how Sumit.???give your views..but first read sec 32(2)..

actually this discussion started when sum one asked that whether it can be set-off against slaries.

after concluding dat it can not be done against salaries.....

a new query arose whether it can be done against winnings.

read the whole discussion atleast.....

I think no more discussion is required on this topic and after reading sec 32(2) and sec58(4),,Sumit would also be clear in his views.

Please.... I want some experts' comment on this post.... Please...

 it can not be sett off

dhiraj, no need of experts advice.

we discussed much on this n referred many books.

it can not be set off against salaries according to sec 32(2) n winnings from lotteries according to sec 58(4)

I know Trinath..., but i really wanted someone to reply him hardest.... Coz, he has replied the same in ur another post too...

"In case of income in the nature of winning from lotteries, crossword puzzles, races including horse race and games of any sorts, etc, no deduction for expenses or allowances shall be allowed which are incurred in connection with such income. However, this provision of disallowance does not apply in computing income from the activity of owning and maintaining race horses of an assessee being the owner of the horses maintained by him for running in horse races."

that means NO EXPENSES ARE ALLOWED

Unabsorbed Depreciation can be set off against any income except against income from salary, winnings from lotteries,crossword puzzles etc....

Ya it is true that salary income can not be use to set off business & professional loss also...

yes, it is...

I've given explaination in FINAL ANSWER forum.. can view there.. But it can be set off.. true by arvind and sumit

 Sorry Dhirav.., actully I had made a mistake..., unabsorbed depreciation cant be set off against salary income also...