Easy Office
LCI Learning

unabsorbed dep.

This query is : Resolved 
Profile Image

Guest

Profile Image

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.
Profile Image

CA. Bikash Bogi

Profile Image

CA. Bikash Bogi (Expert)
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.
Profile Image

CA SANJAY MUKHERJEE

Profile Image

CA SANJAY MUKHERJEE (Expert)
05 November 2009 Agree with expert
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

CA Devanshi Gandhi (Ajani)

Profile Image

CA Devanshi Gandhi (Ajani) (Expert)
05 November 2009 unabsorbed dep. can not be sett off against salary income as well as casual income
Profile Image

Rahul Vora

Profile Image

Rahul Vora (Expert)
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

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links