Belated return - Setoff of business loss
This query is : Resolved
11 April 2009
Can the loss arising from one business "Business Loss" can be setoff against the income of another business during the same year - while filing belated return.
12 April 2009
yes u can.
u can not carry forward the loss
u can not carry forward the loss
CA Nitin Wadhwani
(Expert)
12 April 2009
It's possible but only when the return of income is filed u/s 139(1) or else not
15 April 2009
i agree
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