Carry Forward and Set- off

Thanks for all your efforts :)

So only from 1990-91 Carry Forward AY starts. So it can be set off till AY 97-98. Thanks.

Mr. Nitin Grover, I think we both made mistake in calculating carry forward years.

Dear Deepika

as per your example loss is incurring in the Ass Year 1988-1989 so Eight years will start from Ass year 1989-1990 and ends on 1996-1997

Pls dont get confused

remember one thing

Every Financial year ends on March 31 of each year

so at on that date we find that as per Income Tax and inform to Income Tax Deptt. with in due date that we have Loss so its logically Eight year will start after our knowledge.

as per example you purchase any thing when you know u have need of that thing just like Pen, Registers etc.

Regards

Thanks Mr. Nitin Grover :)

My Pleasure Dear

Thanks.... Sanjay sir & nitin, for  sharing knowledge.....