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.
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
