Set off of current year STCG against b/f unabsorbed dep.

Page no : 2

CA Rashmi (final cleared) (680 Points)
Replied 29 July 2009

as per sec. 32(2),b/f depreciation is treated as current year depreciation and thus qualifies for inter-head adjustment.

as for depreciation it can b set-off with any income except salary income bcoz we can't set-off business loss against salary and so also depreciation also can't be set-off with salary.

so we can adjust b/f dep. from STCG.

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Anumanchipalli Sathikonda (Tax Consultant) (1559 Points)
Replied 29 July 2009

Hello All

Can anybody post an extract of examble problem from any study material, text book in this regard. I also request you all to post any case laws of high courts and supreme courts or tribunal order with citation.

Best Wishes

Sathikonda

punam (article assistant) (56 Points)
Replied 30 October 2009

Unabsorbed depreciation can be set off or carried forward & set off indefiitely with any other head of income. Hence unabsorbed depr. can be set off with short term capital gain.

Sandeep Pandey (CA FINAL) (1306 Points)
Replied 01 November 2009

Thank u very much ..all.................................................................

CA Devanshi Gandhi (Ajani) (FCA DISA Mcom CIFRS & LLB) (9060 Points)
Replied 04 November 2009

it can be sett off

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Rupesh Jain (SERVICE) (33 Points)
Replied 06 January 2010

Originally posted by : SANGAM CA(Final), CS (Final)
	Originally posted by :Ritesh " I beg to differ As per Sec 32(2), Unabsorbed De[preciation can be carried forward indefinitely & can be set off against Capital Gains also. " ya i agree with this it can b carried forward indefinitely and can b set off but cant b set offf against salary income ..