Carry forward of business loss

Business Loss cannot be carried for more than 8 years in any case.

Regards,

Devendra Kulkarni

 you can never carry business loss for more than 8 yrs 

but there is a sec 41(5) [only case] where business loss can be carried forward for more than 8 assessment years

cheers

@ divya: Business loss can't be carried forward for more than 8 yrs.

@ Arniv : Sec. 41(5) is a special section for the set-off of loss of discontinued business against any deemed profits of such discontinued business only, and should not be quoted in general sence.

i agree prabeer ji even our sir told that ki this sec is not much of relevance and should not be written

thank u anyway

cheers

Loss from specified business u/s 35AD can be carried forward for any number of years untill it is fully set-off. However such loss can be set-off only against Income from any other specified business.

Losses from Busness Should be Comprised of Two Things: Business loss & Unabsorbed depreciation.The Carry Forward of Business Loss is restricted to TEN Assessement Year.But Carry Forward Unabsorbed Depreciation can not be restricted for 8 years. it can be carried forward for a indefinite period, besides Sec 41 (5) and specified business U/s35AD loss.

business loss can carry forward max. 8 years