Maximum time limit carry forward
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 September 2014
whether time limit is fixed for loss carry forward in next year.
13 September 2014
Other than depreciation all loss have limited time of carry forward i.e., 8 years or 4 Years (depends on the head of income carried).
But depreciation loss there is no such time limit .You carry enumerable years till all depreciation set offed with you profit.
Refer section from 70 to 74A of income tax act of 1961
But depreciation loss there is no such time limit .You carry enumerable years till all depreciation set offed with you profit.
Refer section from 70 to 74A of income tax act of 1961
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