carry forward
This query is : Resolved
27 April 2010
Is any business loss can be set off/carry forward for unlimited period of time?
Any difference between setoff and carryforward?
Any difference between setoff and carryforward?
CMA Ramesh Krishnan
(Expert)
27 April 2010
Business loss can be carry forward up to 8 years and set off with business income
Taranjit Singh
(Expert)
27 April 2010
Losses under the head Business or profession is fully adjustable against any other head of income except Salaries in the same year. Loss under the head Business or Profession can be carry forward for a period of 8 years and can only be set off against profit and gains from business or profession.
CA Ravi Sisodia
(Expert)
27 April 2010
Agree with experts, yes business loss can be carry forward up to 8 years only.
27 April 2010
agree
27 April 2010
AGREE WITH EXPERTS.
CA BHUMIKA
(Expert)
28 April 2010
ya i agree with all experts but i want to tell u that there is difference betwwen set- off and carry forword.carry forword means loss carry to next yaear and if we have sufficient balance and act permits then we set off loss of privious year in current year.
CMA Arif Farooqui
(Expert)
04 May 2010
AGREE WITH EXPERTS.
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