Set off of buisness loss from speculation profit
This query is : Resolved
Vikas Malhotra
(Querist)
20 September 2012
Dear All,
My company has carried forward business loss and Speculation losses. During the year we have Speculation profit.Can we set off business losses from the same after setting off Speculation loss
Regards
Vikas
My company has carried forward business loss and Speculation losses. During the year we have Speculation profit.Can we set off business losses from the same after setting off Speculation loss
Regards
Vikas
Dintakurthi Tirumala
(Expert)
20 September 2012
yes, you can set-off.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
Vikas Malhotra
(Querist)
20 September 2012
But while filing ITR 6 it is not allowing
Pankaj Gupta
(Expert)
20 September 2012
During the tenure of carry forward a business loss can be set off from business profit only.
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