pagi No.....
unabsorbed depreciation
Page no : 2
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
no it can be set off against all incomes
except speculative incomes.e.g. lottery income
Bharat Khurana
(Student)
(153 Points)
Replied 21 December 2009
yes, unabsorbed depreciation can be set off against any income under any head of income
C.Balaji
(Learner)
(1867 Points)
Replied 25 December 2009
no... unabsorbed depreciation cannot be setoff against lottery income....
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