Set off losses
This query is : Resolved
24 July 2012
can current year speculative profit be set off against brought forward business loss of previous year.
24 July 2012
No. Simple rule is speculative versus speculative only. (Both ways)
24 July 2012
Yes, You can.
a loss from a non-speculative
business can be set off against income from speculation business but vice versa is
not possible.
a loss from a non-speculative
business can be set off against income from speculation business but vice versa is
not possible.
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