If a person is eligible to claim : (1) unabsorbed depreciation (2) current scientific research expenditure (3) current depreciation (4) brought forward business loss The order of priority to set-off would be

CS Executive · Tax Laws and Practice · PYQS · December 2015
If a person is eligible to claim : (1) unabsorbed depreciation (2) current scientific research expenditure (3) current depreciation (4) brought forward business loss The order of priority to set-off would be
(A) (4), (3), (2) & (1)
(B) (2), (3), (4) & (1)
(C) (3), (4), (1) & (2)
(D) (1), (2), (3) & (4).

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax Act, 1961

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