Friends
Can the unabsorbed business loss of AY 12-13 be set off against income from other sources in AY 14-15. My understanding is Yes. Wanted to confirm from you all.
Regards,
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Set off of unabsorbed business loss
Replies (6)
Manish is right, c/f business loss can be set off only from business income other than speculative business income.
Agreed with Mr Manish subject to filing of IT within due date.
No in case of non speculation business loss(a ) on a/c unabsorbed depreciation and capital expenditure on scientific research and family planning - set off can be done any income except salary,no time limit. (B) other remaining loss - only with business profit only for 4 years
No.. can not set off carried forward unabsorbed business lossess against income from any other heads in the subsequent years. That means we can only setoff business profit from unabsorbed business loss in the subsequent years. Other than speculation profit
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