Adjustment of carried forward losses?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 July 2011
IS adjustment of carried forward losses , is necessary?
Situations:-
(a) Total current income is below exemption limit.
(b) Total income is above exemption limit but after deduction on a/c of chapter VI , is below exemption limit.
Also in case of (b) above, is carried forward losses, is to be adjusted, before adjustment of Chapter VI deductions?????
IS adjustment of carried forward losses , is necessary?
Situations:-
(a) Total current income is below exemption limit.
(b) Total income is above exemption limit but after deduction on a/c of chapter VI , is below exemption limit.
Also in case of (b) above, is carried forward losses, is to be adjusted, before adjustment of Chapter VI deductions?????
26 July 2011
Whether you have taxable income or not the b/f of losses shall be reduced from the current income to make the income to zero
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