Tax on partnership firm
Querist : Anonymous
Querist : Anonymous
My Previous Year F.Y. 2015-16 Loss is 26 Lacs. Current Year F.Y. 2016-17 Income is 10 Lacs before (Partner's Remuneration, Interest) both are 2 lacs now my taxable income comes Rs. 8 lacs which is taxable @ 32%. but when I set off previous Loss then it will be (26-8)18 lacs to be carry forward in F.Y. 2017-18. is is right calculation ???
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