banner_ad

Set off losses

Tax queries 482 views 2 replies

can unabsorbed depreciation loss set off against salary income

Replies (2)

 

No, in my view, it cannot be set off against salaries.

Unabsorbed depreciation is covered under section 32(2) and business loss is covered u/s 71(2A).

U/s 71(2A) business loss cannot be set off against salaries. u/s 32(2) unabsorbed depreciation is to be treated as current year's depreciation. Finally, even current depreciation forms a part of business loss/ profit.

Chennai ITAT in the case of Chandrakumar vs. ACIT (129 TTJ 489) has disallowed the set off unabsorbed depreciation against the salary income.

 

see link below.

https://wirc-icai.org/wirc_referencer/income%20tax%20&%20wealth%20tax/Set%20Off%20And%20Carry%20Forward%20of%20Losses.htm

No, business loss cannot be set off with the head income from salary


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details