Set off of carry forward losses
This query is : Open
SHILPA SEHGAL
(Querist)
22 January 2018
Hello
Is set off of the carried forward losses of the previous years are possible against the demand raised by the ACIT in assessment proceedings.
Thanking You.
Is set off of the carried forward losses of the previous years are possible against the demand raised by the ACIT in assessment proceedings.
Thanking You.
CA Suresh Jain
(Expert)
22 January 2018
Set off is against the income not against demand. Please clarify your question
SHILPA SEHGAL
(Querist)
22 January 2018
Sir ACIT raised the demand against income of 1.34 crores without taken into consideration the brought forward losses of the previous years. So that's why I wanna ask that is it possible to adjust the loss & only after that income will be assessed because demand will be reduced by this.
CA Suresh Jain
(Expert)
22 January 2018
Have you claimed carry forward of loss in your return
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