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 Topic
- Startup exit in Sept 2025: Can I still save LTCG t
- Need advice
- GST registration
- Tax Refund timeline
- Is Form 10E applicable for Notice Pay received in
- INCOME RECEIVED FROM COMPANY FOR ELECTRIC POLLS
- ITR Processing By CPC Now Super Fast - Much apprec
- Abroad Jobs
- Professional Income in 44AD
- Presumptive taxation
Related Topics
CAclubindia
