Dear All,
Company has loss for last 5 years.
Can a Director adjust company loss in his/her income tax return filling.
Please help me on this
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Company loss adjustment in director ITR.
Replies (1)
The loss of one assessee cannot be adjusted against income of another except Section 64.
Since the company's PAN is different and Directors PAN is different the loss can never be adjusted.
Since the company's PAN is different and Directors PAN is different the loss can never be adjusted.
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