Menu
Deductibility of business closure expenses
Where the assessee has shut its operations and business and still incurs certain expenses on business closure, compliance and other expenses aftermath, will it be allowed as deduction under section 37?
Replies (3)
He can carry forwards the losses till he gets profits in any new business...
Yes he can claim all those expenses
Sec 37 allows for claiming expenses wholly for the purpose of business.
Recent Threads
- AGM WITH SHORTER NOTICE
- 15CA/15CB Bulk Filing Automation Tool – Need
- GSTR 9 FY 2023-24 LATE FEE
- Should we go under Section 59 of IBC or Section 27
- HUF'S ISSUE
- Gst interest and penalty doubts
- TDS RATE ON RENT FOR NRI
- NBFC costing
- Taxablity of GSLI under Income Tax
- Final new course clarification
Related Threads
CAclubindia
