Setoff of unabsorbed depreciation

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1 Points Posted on 04 June 2021
Can current year dep ( in excess of income under the head PGBP)and unabsorbed depreciation be set off against any other head (including income under the head salaries)?
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On 04 June 2021 at 01:35 Report
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This discussion clarifies the rules for setting off unabsorbed depreciation and current year depreciation that exceeds income under the head PGBP. It has been confirmed that such depreciation cannot be set off against income from any other head, such as salaries. The set off must be against income from the PGBP head only.

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Chartered Accountant
24588 Points Posted on 04 June 2021
No it cannot be set off against any other head. It should be set off against income from PGBP
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On 04 June 2021 at 10:05
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tax consultant
3306 Points Posted on 04 June 2021
Not allowed
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On 04 June 2021 at 12:56
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Chartered Accountant
24588 Points Posted on 25 July 2021
Agreed
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On 25 July 2021 at 09:06
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Chief Accountant
3150 Points Posted on 31 July 2021
No, can't set off against other head
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On 31 July 2021 at 02:32

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