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
12 April 2009
yes u can.
u can not carry forward the loss
u can not carry forward the loss
12 April 2009
It's possible but only when the return of income is filed u/s 139(1) or else not.
12 April 2009
It seems Mr. Nitin's view is correct.
13 April 2009
Yes, Mr. Nitin is correct
13 April 2009
yes
15 April 2009
Yes, Mr. Nitin is correct
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