Parnership Firm
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 July 2010
What is the time frame for carry forward of losses for a partnership firm ?
Can the partners of this firmset -off their shares of losses gainstt their respective Business Income or Capital Gains ?
Can the partners of this firmset -off their shares of losses gainstt their respective Business Income or Capital Gains ?
16 July 2010
Normal Business Loss of partnership can be carried forward for 8 years to be set off against income of the firm only and not of individual partners.
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