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Set off of Unabsorbed Depreciation

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(Querist)
05 June 2010 Can Unabsorbed depreciation be set off against salary income..
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Rishab Mathur

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Rishab Mathur (Expert)
05 June 2010 No, nothing is allowed to be set off against salary income except intt. on house property
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
05 June 2010 yes it can be sett off

coz it is covered by section 32(2) and not 71/72
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Rishab Mathur

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Rishab Mathur (Expert)
06 June 2010 I would like to differ with Ms Gandhi Sec 32(2) provisions are subject to provisions of Sec 72/73 and therefore unabsorbed depreciation cannot be set off against salary income.
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CMA Arif Farooqui

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CMA Arif Farooqui (Expert)
09 June 2010 cant be set off against salary

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