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?
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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)
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