final accounts
This query is : Resolved
23 September 2008
while making provision for income tax, brought forward losses will be considered or not.
Ravikumar.G
(Expert)
23 September 2008
Yes it will be. But the return should be filed with in the due date. If it is a unabsorbed depreciation loss you can claim 'n' number of years.
23 September 2008
You have to compute your tax payable on Total Income and the tax payble is arrived at after considering the b/f losses which are adjustable to the current years income. The amount of tax payable is your Provision of Taxation for the year.
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