12 August 2009
As per 115 JB, only brought forward loss or unabsorbed depreciation whichever is less is reducable from book profit. Please tell me that this brought forward loss or unabsorbed depreciation whichever is less how will be calculated. It is calculated on Year wise basis or consolidated basis.
12 August 2009
Brout forward loss is the cumulative past years losses . Unabsorbed dep is depreciation which could not be claimed as deduction due to lack of profit.
CAclubindia
