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One of our client is registered under Societies Act and having status of Trust (12A) and filing return in form no. 7 since last so many years.
The Trust is doing activities for object of Trust as well as business activities since last 5 years and having huge amount of Unabsorbed depreciation.
During the current year i.e. FY 2012-13, the Trust has business income of around Rs. 10Crore and Unabsorbed depreciation of previous year is Rs. 3 Crore.
However on going through the ITR-7, it seems that there is no columm for Set-off of Unabsorbed Depreciation.
Kindly advice us.
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