CARRY FORWARD OF LOSS
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 July 2010
IN CASE A PERSON IS HAVING LOSS FROM HIS BUSINESS & HE IS NOT MAINTAINING BOOKS OF ACCOUNT(SMALL BUSINESS WITH TURNOVER/INCOME BELOW 10L/1.2),STILL HE CAN CARRY FORWARD THOSE LOSSES OR IS THERE ANY RULES FOR CARRY FORWARD OF LOSSES IN REGARDS TO MAINTENANCE OF BOOKS OF ACCOUNTS.
31 July 2010
maintaining of books is not a criteria for carrying of losses
if return has been filed on or before the due date then he can carry the losses
if return has been filed on or before the due date then he can carry the losses
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