set off of unabsorbed depreciation
This query is : Open
20 February 2017
I derive income from salary however recently I have started a business on the side as well. I have purchased a few capital assets and cleaning set off for the same against my income from business. However I would like to know that can I set off my unabsorbed depreciation against income from salary?
Message likes :
1 times
21 February 2017
there is no bar on setting off unabsorbed depreciation against salary income. However, please note, while calculating TDS on ur salary, your employer is required to ignore this loss (any loss other than loss from house property is ignored). this may result in a refund ( as you already have loss from business and TDs made on salary income)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is Aadhar PAN linking required for opening bank account?
- Applicability
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Where to show the RCM on Rent paid to unregistered landlord
- RCM - commercial rent paid to URP under GST
- TDS NUMBER SURRENDER
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Gst Sales of FY 2023-24
- Offsetting interest income against derivative trading losses
- My Last working day in current org is in novemebr 2024 but they are asking me to submit IT proof
- Indexation benefit applicability
- SEC 54 OF IT ACT
- Passed group 2 exams under wrong gender
- REQUIREMENT OF 15CB
- QUERY FOR RCM ON RENT
- APPEAL-CIT
- Payable outstanding for years disallowance
- Whether still royalty
- Issue of gst e invoice
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
