Priority of various Carried Froward Losses, Depreciation, Profit to arrive Net Taxable Income

[SHOEB VAPIWALA]

Dear Sir

We request you to explain about set off procedure of 1) Depreciation C/F 2) Business Loss C/F 3) Profit C/F u/s 80JJA 4) Profit U/as 80I under Income tax Act., 1961.

Which C/F items to set off must be priorities on others?

Thanks

VAPIWALA S G

AI Summary

Set-off priority of carried forward losses: query on ordering of depreciation, business loss and incentive profits for tax computation. The query seeks guidance on the set-off procedure and relative precedence among carried forward depreciation, carried forward business losses, and profits carried forward that qualify for deduction under specified tax incentive provisions when determining net taxable income.