Poonawalla fincorps
Poonawalla fincorps

Depreciation loss to be carried forwarded

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(Querist)
07 October 2009 In case of retirement of one of the partners, whether depreciation and business loss can be carried forwarded and to what extent
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
07 October 2009 The share of loss relatable to an outgoing partner,either by retirement or death, will be excluded for the purpose of carry forward and set off. Pl see section 78(1) for more details.

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