A partnership firm with 4 equal partners brought forward depreciation of ₹ 3 lakhs and business loss of ₹ 3 lakhs relating to AY 2019-2020. On 1st April 2020, two partners retired. The amount that assessee-firm can set off against its income for the AY 2021-22 would be

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Question:A partnership firm with 4 equal partners brought forward depreciation of ₹ 3 lakhs and business loss of ₹ 3 lakhs relating to AY 2019-2020. On 1st April 2020, two partners retired. The amount that assessee-firm can set off against its income for the AY 2021-22 would be

1.Unabsorbed depreciation of ₹ 3 lakhs plus brought forward business loss of ₹ 3 lakhs

2. Unabsorbed depreciation ‘nil’ plus brought forward business loss of ₹ 3 lakhs

3. Unabsorbed depreciation ₹ 3 lakhs plus brought forward business loss ‘nil’.

4.Unabsorbed depreciation ₹ 3 lakhs plus brought forward business loss of ₹ 1.50 lakhs.

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  1. A partnership firm with 4 equal partners brought forward depreciation of ₹ 3 lakhs and business loss of ₹ 3 lakhs relating to AY 2019-2020. On 1st April 2020, two partners retired. The amount that assessee-firm can set off against its income for the AY 2021-22 would be
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