Business loss treatment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 September 2012
a company is continuously showing is balance sheet in loss. after 8 years what are treatment of his loss than loss will not be set off in 8 a.y. year ,please guide me.
08 September 2012
For IT Purpose, Now Losses are Not Eligible to Set Off.
Only if Unabsorbed Depreciation/Preliminary Exp,35D Expenses, UAD Family Planning Expenses is There, That Can be Set Off.
Only if Unabsorbed Depreciation/Preliminary Exp,35D Expenses, UAD Family Planning Expenses is There, That Can be Set Off.
08 September 2012
In balance sheet Debit balance of Profit and Loss Account to be shown as negative figure under the head Surplus. Therefore, reserve & surplus balance can be negative. the carryforward limit of 8 AY is for IT purpose only and not for balance sheet.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Unregistered suppliers utility
- ITDS U/S.194T of Firm
- Difference between Date of Payment and Date of Deduction?
- GST Rate for Catering Services
- FCRA 6 E- Intimation
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- Non-Compliance documents have not been submitted by the contractors debited
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
