Sett-off against 44ad
This query is : Resolved
CA PARAS BAFNA
(Expert)
13 May 2012
In case an eligible assessee is having brought forward non speculation business losses pertaining to earlier assessment years, he can set off such losses against presumptive business income U/s 44AD of the current AY.
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piyush goplani
(Expert)
13 May 2012
Yes the assessee can set off the lossess against income declare u/s 44AD, provided the conditions of Sec 72 are satisfied
Regards:
CA Piyush Goplani
Regards:
CA Piyush Goplani
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