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?????

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
Follow

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

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

THUSHAR MURALI KRISHNA

rana andcompany

Vinod Patil

CA jignesh daiya

Pritanu Chakraborty

Subscribe Now

Adjustment of carried forward losses?

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Manager- Finance and Compliance

GST CONSULTANCY

Accountant

GST CONSULTANT

Article Assistant