banner_ad

Carry Forward of Business Loss

This query is : Resolved 
Profile Image

Profile Image

(Querist)
05 December 2008 An assessee has c/f business loss of Rs. 1 lac, pertaining to AY 2005 – 06. For AY 2008 – 09, the total income of the assessee (including business profits of Rs. 65,000) does not exceed the maximum amount not chargeable to tax. i.e. the total income is Rs. 85,000.
Does the assessee have an option not to set-off the b/f business loss against business profits of the current year?
Can the assessee claim carry forward of entire business loss of Rs. 1 lac, pertaining to AY 2005 – 06, without any set-off against business income of AY 2008-09?

Thanks & regards,
Niki
Profile Image

CA Vivek Jain

Profile Image

CA Vivek Jain (Expert)
06 December 2008 Business Loss can be setoff Any Income except Salary and balance amt carry forward for setoff up to 8 year
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
29 April 2026
Internal Auditor

SNCO

Mumbai

CA Inter

View Details
Company
29 April 2026
Associate - Audit, Tax & Compliance

Open Co Consulting LLP

New Delhi

B.Com

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details