Set off and carry forward
This query is : Resolved
Sujit Kumar Singh
(Querist)
19 January 2013
Loss from business that was discontinued can be set off against profit from business that is continue?
CA PARAS BAFNA
(Expert)
19 January 2013
(In the case of Non-Speculative Business)
.
One of the reason for discontinue the business is Losses. Such Losses are allowed to be c/fd ( Max. Up to 8 Years) and can be set off against profits of any other business.
.
(In the case of Non-Speculative Business)
.
One of the reason for discontinue the business is Losses. Such Losses are allowed to be c/fd ( Max. Up to 8 Years) and can be set off against profits of any other business.
.
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