Sec 10A

This query is : Open

Keerthilakshmi B R (Querist)
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04 March 2009 Plz let me know whether the set off of earlier years' losses should be before availing the exemption u/s 10A or after that against the current year profits? Thank you.

CA Tirth Ajani

CA Tirth Ajani (Expert)
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05 March 2009 impact of claiming deduction U/S 10 A :

the losses U/S 72(1) or 74(1) or 74(3)even, unabsorbed dep. unabsorbed capital epx. on scientific research or family planning (pertaining to the AY 2000-01 or earlier years) are not allowed to be carried forward in AY suceeding the period of deduction. the deductions U/S 80IA or 80IB shall also not be available to such undertaking after the expiry of tax holiday period.
Adjustment U/S 70 and 71 is not prohibited.

i think once u have opted for Section 10A than set off and carry forward is not possible.

awaiting reply from other experts.