Can we adjust Salary Income against Unabsorbed depriciation
This query is : Resolved
02 March 2009
Hi! Guys
Iwant to know that can v take salary Income against adjustment of Unabsorbed Depriciation.
plz Suggest.....
Iwant to know that can v take salary Income against adjustment of Unabsorbed Depriciation.
plz Suggest.....
02 March 2009
Dear Shreekant,
Section 71 of Income tax provide that current year business loss cant be set off from Income From Salary.
Here Unabsorbed Depreciation will be considered as loss from B&P which can be carry forward for unlimited number of years.
So Set off is not possible
Section 71 of Income tax provide that current year business loss cant be set off from Income From Salary.
Here Unabsorbed Depreciation will be considered as loss from B&P which can be carry forward for unlimited number of years.
So Set off is not possible
02 March 2009
NO CAN NOT ADJUST THIS AGAINST SALARY INCOME
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