in earlier discussion i,ve maintained my stance on unabsorbed dep.
tax experts questions
Page no : 2
DT Fundas - Tarun rustagi
( Author)
(1150 Points)
Replied 23 November 2009
1.LTCG u/s 112 and STCG u/s 111A is to be deducted while computing gross total income.
2.yes
3.no it can't
CMA RAVI GUPTA
(MT in VPL)
(493 Points)
Replied 23 November 2009
thanxx kabirsen for replying my queries ...................but I am in case of unabsorbed depreciation as you said unabsorbed is governed u/s 32(2) so it comes under the category of pgbp , loss under pgbp can't be set off against salary.If there is no business loss then unabsorbed depreciation is merged with current year depreciation u/s 32(2) and current year business loss can't not against under the head salaey.so I unabsorbed depreciation can't be set against salary.
thanxx kabir
ravi
CMA RAVI GUPTA
(MT in VPL)
(493 Points)
Replied 23 November 2009
thanxx poonam for replying ans of ques. no. (1) I think you study from V K Singhania in this book income referred to in section 115BB was not deducted .So pls clerify it.
thanxxx
ravi
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