pagi No.....
Rahul
(Ludhiana)
(67 Points)
Replied 20 December 2009
NO! LOTTERY INCOME WILL BE THERE FOREVER EVEN IF THERE ARE EXPENSES ASSOCAITED WITH IT!
UNABSORBED DEPRECIATION CAN BE SET OFF AGAINST ANY HEAD OTHER THAN SALARIES..
IT IS TO BE SET OFF EARLIAR THAN BUSINESS LOSS..AND CAN BE CARRIED FORWARD FOR INFINITE PERIOD..UNLIKE BUSINESS LOSS WHICH CAN BE C/F ONLY FOR 8 YEARS!
CA kuldeep kothari
(own practice)
(375 Points)
Replied 20 December 2009
Bharat Khurana
(Student)
(153 Points)
Replied 21 December 2009
C.Balaji
(Learner)
(1867 Points)
Replied 25 December 2009
no... unabsorbed depreciation cannot be setoff against lottery income....
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
