Business Loss
This query is : Resolved
Ram Sakal Mahto
(Querist)
30 April 2010
Sir,
I am in following problems please solve these.
Last Year our Business loss of co. was about 5,39836/-as per income tax return
This year Loss is about 42 lacs
What will be treatment of above losses.
how will it be adjusted.
For how long a co. can be in loss consequitively ?
Thanking you
With Regards
Ram
I am in following problems please solve these.
Last Year our Business loss of co. was about 5,39836/-as per income tax return
This year Loss is about 42 lacs
What will be treatment of above losses.
how will it be adjusted.
For how long a co. can be in loss consequitively ?
Thanking you
With Regards
Ram
CMA Ramesh Krishnan
(Expert)
30 April 2010
Business loss can be carryforward up to 8 years and setoff against Business Income
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