SET OFF, CARRY FORWARD & SET OFF
Vineet Kumar Sharma (Chartered Accountant) (316 Points)
08 March 2010Vineet Kumar Sharma (Chartered Accountant) (316 Points)
08 March 2010
SUDHIR & PRADEEP JI
(CA FINAL+LLB + DISA)
(2299 Points)
Replied 08 March 2010
CA Dhiraj Ramchandani
(CA, M. com)
(10823 Points)
Replied 08 March 2010
Vineet... are u asking for an option here???
Dude, there is a criteria to be followed..
UNABSORBED DEPRECIATION can be carried for years, but not the business loss.. U should set off that first....
C.Balaji
(Learner)
(1867 Points)
Replied 08 March 2010
Current year losses should be first set off with the profit available........
Bala
(Student)
(498 Points)
Replied 08 March 2010
Business Loss of Current year, Past years, Depreciation loss
Rajat Singhal CA,CS,CFA
(Senior Manager (F&A))
(254 Points)
Replied 09 March 2010
Vineet.....Dheeraj is correct Unabsorbed dep can be carry forwarded for any no. of years so you should first set off the losses and that too first last years braught forwarded losses should be set off.
Thanks
Rajat
Sharad Suman Das
(art)
(141 Points)
Replied 09 March 2010
dear vineet
i totally agree wiyth the commkents given by dheeraj and rajat last years loss should be set off then think about unabsorbed depriciation bcoz for that u have unlimited time
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)