Loss as per books & Income Tax

Tax queries 489 views 1 replies

hi,

In one of the private limited company, as per high court order accumulated losses has been adjusted against share premium account.

Now my query is , whether we will able to carried forward these losses as per income tax act and will able to take set off of the same against future profit.

 

please reply.

 

Sameer

Replies (1)
genrally, losses can be carried forward for 8 AYs, so if the period of accumulated losses has crossed the above time limit, then same cant be carried forwad & set-off.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register