unabsorbed dep.
This query is : Resolved
Guest
Guest
(Querist)
05 November 2009
CAN UNABSORBED DEPRECIATION BE SETOFF against the income under the head "SALARY" and the income from winnings,lotteries n puzzels,etc.?In forum we disscused alot but still there is divergence in the opinion.So,plz.make it clear.
05 November 2009
No. Unabsorbed depreciation can not be setoff against salary income and income from lottery in any case. There is clear cut language prescbibed in section 32.
There is no dispute regading the set off. It has been also upheld by various court decesions.
There is no dispute regading the set off. It has been also upheld by various court decesions.
05 November 2009
Agree with expert
05 November 2009
unabsorbed dep. can not be sett off against salary income as well as casual income
05 November 2009
No, unabsorbed depreciation can neither be set off against salary income nor against income from winnings,lotteries n puzzels,etc
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 this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Sale of property furniture sale
- RCM INVOICING FROM NOV-2024
- Tds on building rent monthly
- Darpan registration
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
