The Company having previous year balance in general reserves of Rs.1 crore and have loss in current year of Rs.2.5 crore.
Can the company set-off there current year loss from the general reserves and show only the balance amount as loss in balance sheet.
Please also mentioned the related provisions or rules.
thanks & regards
R P S K & Associates
Nashik
CA Inter
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SMJ global advisors pvt ltd
New Delhi
B.Com
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CAclubindia
