Negative income in pgbp
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 June 2013
My client is having negative income or say loss under profits & gains in Business/profession. My question is that will this return be uploaded or not with negative income? Also, if this loss is set off under inter head adjustments and GTI comes in positive or nil, then what are implications of this?
01 June 2013
Loss form the pgbp can be set off from other head except salary. If it can't set off, it can be carry forward for 8 years and set off from pgbp head.
01 June 2013
-ve income return can be e-filed.
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