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Loss in pvt. ltd. company

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 July 2013 A manufacturing company having a loss of rs. 20 lacs in f.y. year 2012-13
can it is accepted in income tax department.
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CHIDHAMBARA BALAJI

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CHIDHAMBARA BALAJI (Expert)
13 July 2013 Hai,

There is no question of acceptance and you can set off your losses .But you need to work out the losses as per IT Computation
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