Rules relating to set-off of unabsorbed depreciation???

Income from lotteries, puzzles etc. are taxed at special rate. No deductions are allowed in these incomes. You cannot claim any expense against them even if you incurred an expense exclusively to receive these incomes. Therefore, I do not think you will be allowed to set off any losses.

but there is no provision that it can not be set-off.

if it is so, it shld mention that u.d can be set-off against any other incomes other than salaries n winnings from lotteries etc...

but it is only mentioned that it can be set-off against any income other than salary income

 unabsorbed depreciation can also be set off from the income under the head salaries

but not from lottries

it is specially taxed at flat @ 30%

hello Mr.Sumit, it cannot be set-of against salaries.

u r bringing the discussion to the base again

Yaar, tu mujhe bas ye bata de, from where u got this information that UNABSORBED DEPRECIATION can be set off against SALARIES... I think u've posted this in other forum tooo... 

"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."

So., Mr. Trinath... I think it should not be allowed.. I know, its nowhere mentioned about unabsorbed depreciation.., but i think its to be understood.. When the expenses spent on such incomes itself are not allowed for deduction, then how can an unabsorbed depreciation,....

But still, let some experts post their commetns...

 unabsorbed dep. can not be sett off against salary income as well as casual income

 it shud be allowed ...

as set off takes place only after we calculate income for each head....there's nowhere in act which denies it...

when act is silent...it shud be interpreted the way in which its beneficial to assessee....