We are into setting up and running 3 star Budget Hotels all over India. We are incurring losses since P.Y.04-05 with business loss in P.Y. 2004-05. Now we are coming up with hotels every year and due to the high depreciation as per Tax Laws every year we have tax losses. Is there any way out to utlise the Business Loss of P.Y. 04-05 before it expires?
Menu
Carry forward business loss after 8 years
Replies (1)
Business loss to the extent of depreciation will be carry forward as unabsorbed depreciation and not business loss and for unabsorbed depreciation there is no time limit.
Recent Topics :
- Does AIS GST Purchase aggregate GSTR-2B expenses?
- Form 26A - System has encountered some technical p
- Tool to convert GST invoice PDFs into Excel —
- Revised or rectification or leave it?
- Private limited tax audit
- LTCG - SEC54
- Foreign remittance from our client for Co Working
- UDIN generation
- Reply plz guys
- Tax Deduction and Collection Account Number
Related Topics :
CAclubindia
