current year depreciation being set off against salary incom

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

12 June 2010 Respected Sir
if an assessee has only salary income,
and current years business loss excluding depreciaion is Rs. 90,000 and current years depreciation is Rs. 60,000/-.

will the assessee able to set off current years depreciation against the salary income???

Sir, I came to know that " Since Sec 32 (2) is silent about the set off of current year's depreciation against income under any other head, and no court decisions are available in that regard,
THE BENEFIT OF SET OFF IS GIVEN TO THE ASSESSEE IN THE ABOVE QUESTION.."

mohit

mohit (Expert)
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12 June 2010 Unabsorbed depreciation can not be setof against salary income. Reason being no other loss except house property can be set off against salary income.

Querist : Anonymous

Querist : Anonymous (Querist)

12 June 2010 Mr. Mohit,
I know that but what about,
" Since Sec 32 (2) is silent about the set off of current year's depreciation against income under any other head, and no court decisions are available in that regard,
THE BENEFIT OF SET OFF IS GIVEN TO THE ASSESSEE IN THE ABOVE QUESTION.."

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