Loss Carry Forward
This query is : Resolved
12 July 2010
Can loss from the head "Income from other Sources" be carried forward ?
Eg
Loan @10% taken as on 1 Jan 10 = 1,00,000/-
Investment @ 15% taken as on 1 Jan 10 = 1,00,000/-
Interest on Loan accrues last day of every month and on investment every year on 31 Jul.
Net Taxable Income
Int on Investment till 31/Mar/10.........0
Int on Loan till 31/Mar/10...............(2500)
Hence Loss under IFOS (2500)
Can this loss be carry forward to next year ?
Eg
Loan @10% taken as on 1 Jan 10 = 1,00,000/-
Investment @ 15% taken as on 1 Jan 10 = 1,00,000/-
Interest on Loan accrues last day of every month and on investment every year on 31 Jul.
Net Taxable Income
Int on Investment till 31/Mar/10.........0
Int on Loan till 31/Mar/10...............(2500)
Hence Loss under IFOS (2500)
Can this loss be carry forward to next year ?
12 July 2010
Your problem is not understandable. Please write your problem clearly
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
- Tax on Deemed Capital Gain
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Exiting partner in partnership firm in gst portal
- NRI INSURANCE ADVISOR
- Average Cost Of High Quality Diamonds
- TAX AUDIT QUESTION
- Difff in ais receipts and gst turnover
- TDS _Long term Capital Gain ref.sec 214 Table 2
- Due Date Clarity
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
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
