Unabsorbed Depriciation

no

A big No...........

no it is not possible at all. as under the head salary nothin cn b set off even unabsorbed depriciation

hi,

         unabsorbed ep. can be set off against salary income. coz. as per section 71(2A), loss under Profts and gains cannot be set off under salaries. however, unabsorbed dep comes in section 32(2). nowhere in sec.32(2), it is mentioned that unabsorbed dep cannot be set off against salary

Hi Karan...

There is no restriction in the Income tax act..

Theoretically, you can set off,

But practically no one can do it because such a set off provision is not there in the income tax return.

(Electronic or manual - both do not have the provision to set off - see the schedule CYLA)

For an exam purpose, the answer is no, since it is a better view and it is practically adopted.

And salary income can be reduced by CURRENT YEAR LOSS from the follwing heads

a) House property,

b) Other sources.

sett of losses says  salary cant be sett off by any head...be clear about that

Unabsorbed depreciation can be setoff against salary. Unabsorbed Depreciation is not a business loss governed by section 71.

Business loss cannot be set off against salary. In my opinion Unabsorbed epreciation canbe setoff against salary.

Dear Vineeta,

             Unabsorbed dep. can be set off  against salary. coz it is not governed by sec.71. Unabsorbed dep. is governed by sec.32(2). In sec.32(2), there is nothing specified that it cannot be set off against salary.So it can be set off against salary

Yes, Unabsorbed Depriciation losses can be set off against any head. ie. it includes Salary. It is not covered under section 72,72,73,73A of the Income Tax Act. Therefore, it is not implcit in the act.

Dear Friends,

Pls feel free to take either stance..

But do believe me when i say that it SHOULD be set off

but it CANNOT be set off due to what i said in my first post.

I suggest, pls adopt a conservative view that reflects the

actual position an assessee faces when setting off his losses.

Ciao.

hello sir, do u agree in sal you ill get loss? in sal no loss at all so other losses and Exp we can not seet off

so tell ans for this

Whil calculating EPS we ill deduct intrest, wat about  principle amount wer we have to shown? if we do not shown the EPS will be more, but in new project  while issuing Prospectus we have to show eps, i'm confussing this please help me

no////.....

Dear Mahesh,

            Unabso. dep. cam be set off in Salary. Nowhere in the IT.Act,1961 this has been prohibited. Unabsorbed dep. comes in sec.32(2). So it cannot be compared with business loss

Mr. Mukund is right...