A company has the following: (i) current scientific research expenditure; (ii) current depreciation; (iii) unabsorbed depreciation; (iv) brought forward business loss. The order /sequence of set off is:

CS Executive · Tax Laws and Practice · PYQS · December 2017
A company has the following: (i) current scientific research expenditure; (ii) current depreciation; (iii) unabsorbed depreciation; (iv) brought forward business loss. The order /sequence of set off is:
(A) (i), (ii), (iii), (iv)
(B) (iv), (iii), (i), (ii)
(C) (i), (ii), (iv), (iii)
(D) (iv), (ii), (i), (iii)

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income Tax

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