Other income
This query is : Resolved
18 June 2013
Dear All ,
One of our Individual client was having business income in the F.Y. 2011-12 , As return was not filed . But now he wants to file the return . So it is necessary to show the current account of that business ? As business was wind up in the sep 2011. Business has loss so the business closed. From oct 2011 he was having the salary income .
Kindly suggest me how we can compute his tax
hope for the fast reply .
One of our Individual client was having business income in the F.Y. 2011-12 , As return was not filed . But now he wants to file the return . So it is necessary to show the current account of that business ? As business was wind up in the sep 2011. Business has loss so the business closed. From oct 2011 he was having the salary income .
Kindly suggest me how we can compute his tax
hope for the fast reply .
Mayur Gondaliya
(Expert)
18 June 2013
You Can file Income Tax Return Loss Can't be Set off Against Salary income
18 June 2013
thanks for reply , but we have show the business income with the salary ? so we will calculate the total income ?
Mayur Gondaliya
(Expert)
18 June 2013
Business income or loss ? Loss You can not set off against income and it will be directly debited to capital account
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