Carry forward loss
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 July 2012
Hi all,
Can an individual who is doing business carry forward his loss ?
He has a loss of 300000 last yr, and now earned 250000 , so this year can he set off whole 250000 or only 70000( 250000-180000) should be off ?
Can an individual who is doing business carry forward his loss ?
He has a loss of 300000 last yr, and now earned 250000 , so this year can he set off whole 250000 or only 70000( 250000-180000) should be off ?
CA PARAS BAFNA
(Expert)
01 July 2012
He can set off Rs.250000/-.
Message likes :
1 times
Guest
Guest
(Expert)
01 July 2012
Yes it can set off your loss and you can carry forward your remaining loss for 8 years.
Message likes :
1 times
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