What are the provisions framed under the Income-tax Law relating to set off of unabsorbed depreciation, unabsorbed capital expenditure on scientific research and unabsorbed capital expenditure on promoting family planning amongst the employees?
FAQs on Set Off and Carry Forward of Losses
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Set off priority for unabsorbed depreciation: establishes sequence for adjusting research, family planning and business losses. Depreciation is deductible under Profits and gains of business or profession, and any unabsorbed portion is carried forward and deemed part of ... Summary
Set off priority for unabsorbed depreciation: establishes sequence for adjusting research, family planning and business losses.
Depreciation is deductible under Profits and gains of business or profession, and any unabsorbed portion is carried forward and deemed part of depreciation for the next year. For set off, adjustments follow a three-tier priority: first current scientific research expenditure, family planning expenditure and current depreciation; second brought forward business loss; third unabsorbed depreciation and unabsorbed capital expenditure on scientific research or family planning.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
