Set off the loss
This query is : Resolved
shoeb parwaiz
(Querist)
29 May 2015
Dear All,
Can the business loss of FY 2007-2008 be brought forwarded in FY 2015-2016?
Can the business loss of FY 2007-2008 be brought forwarded in FY 2015-2016?
Rupesh Jain
(Expert)
29 May 2015
yes you can carry forward the loss to next 8 years.
29 May 2015
Yes.
Provided-
1. You have filed return of income within due date u/s 139(1)&
2. It is not a speculative income.
Provided-
1. You have filed return of income within due date u/s 139(1)&
2. It is not a speculative income.
shoeb parwaiz
(Querist)
29 May 2015
Dear Sir,
Thanks for your prompt response.
Will the counting of 8 year be start from FY 2007-2008 or FY 2008-2009?
Thanks for your prompt response.
Will the counting of 8 year be start from FY 2007-2008 or FY 2008-2009?
29 May 2015
No. 8years back from FY 2013-14.
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