Tom S Peter (Article) (148 Points)
26 July 2011Dear friends I need an expert opinion.
Consider the scenario:- I'm having an unit for which I can avail 100% tax benefit under Sec 80 IA . I'm availing the benefit from this year onwards. I'm having carried forward loss and unabsorbed depreciation with regard to this unit.
Can I set off the carried forward losses against the income from the unit and avail the benefit u/s 80 IA for the remaining income portion?
CA R K SINGH
(CA CS FINAL CMA INTER)
(372 Points)
Replied 06 August 2011
Dear Tom S Peter,
Before claiming deduction u/s 80-IA , Brought forward loss & Unabsorbed Depreciation Should be Adjusted. So you can adjust the brought forward loss & unabsorbed depreciation & thereafter claim deduction u/s 80IA
CAclubindia
