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Unabsored Depreciation

Harish Dhamija (Student) (32 Points)

09 May 2009

Please tell me wheteher UNABSORED DEPRECIATION is set off against SALARY or not.

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16 Replies

M.M.SURANA (Director -Taxation ) (532 Points)
Replied 09 May 2009

It can not be set off with Salary from the A.Y.2005-06, even any other business loss can not be set off with Salary Income from the A.Y.2005-06

Surana, Chennai

9952967237

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Harish Dhamija (Student) (32 Points)
Replied 09 May 2009

Originally posted by :M.M.SURANA
"	But According To CA Rajesh Sharma Unabsored Depreciation is setoff agnst. salary But bussiness loss is canot setoff agnst. salary	"

M.M.SURANA (Director -Taxation ) (532 Points)
Replied 09 May 2009

Mr. Harish

As I hav already mentioned, ther is amendment. form the A.Y. 2005-06 it can not be set off . for More detail U can read chapter Rule of Carry Forward of Loss

surana Chennai

9952967237

CA Manish K Dhoot (CA, B. Com, NCFM, CPCM) (5015 Points)
Replied 09 May 2009

only business loss can be set off from salary but not unabsorbed dep.

Bidisha Choudhury (Ca final) (244 Points)
Replied 09 May 2009

business loss cannot be set off from salary.............same is the case for unabsorbed dep. it cannot be set off agnst salary, casual income

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Sakshi Chanana (Article) (141 Points)
Replied 09 May 2009

No Unabsorbed Depreciation cannot be setoff Salary.

Harish Dhamija (Student) (32 Points)
Replied 09 May 2009

Originally posted by :Manish
"	Wrong sir, business loss cannot be set off from salary.	"

CA Manish K Dhoot (CA, B. Com, NCFM, CPCM) (5015 Points)
Replied 09 May 2009

"only business loss can be set off from salary but not. unabsorbed dep". wrrongly written

correct is that Unabsorbed dep. can be set off from any head including salary.

Sumit Jain (CA) (4760 Points)
Replied 09 May 2009

mm surana

is right

Isha Gupta (Chartered Accountant) (180 Points)
Replied 09 May 2009

Unabsorbed Depreciation cannot be set-off Salary.

no doubt abt it

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CA Manish K Dhoot (CA, B. Com, NCFM, CPCM) (5015 Points)
Replied 09 May 2009

i read in the book that it can b set off from salary

vijay (.) (212 Points)
Replied 09 May 2009

hi...

Yes, Unabsorbed depreciation can be set off from salary income.

Regards

Vijay Kumar

CA Manish K Dhoot (CA, B. Com, NCFM, CPCM) (5015 Points)
Replied 09 May 2009

i m also saying this

CA FaIyaZ PaTrAwaLa (CA) (276 Points)
Replied 10 May 2009

Unabsorbed depreciation can be setoff not only against income under "Profit and Gains of Business or Profession" but also against income under any other head. That means it can setoff against salary...