provisions of carry forward Business losses
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 January 2010
my client(individual) has a business loss of rs.5207,can the business loss be carried forward while due date:31-07-2009?
Aditya Maheshwari
(Expert)
11 January 2010
If the business loss is in respect of earlier periods in respect of which return has been filed on time then loss is allowed to be carried forward upto 8 years. If the loss return filed after due date loss cannot be carried forward
Murtaza I Bhagat
(Expert)
11 January 2010
agree with expert if you have not filling your return in time then you can not carry forward your business losses for that you need to file before due date.
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