in MAT concept, we take business/ depn loss, whichever is less naa,as deduction from Net profit...my doubt is whether the 8 years time limit for business loss is applicable here also...???
CA Aspirant! (CA Fresher) (112 Points)
16 September 2009in MAT concept, we take business/ depn loss, whichever is less naa,as deduction from Net profit...my doubt is whether the 8 years time limit for business loss is applicable here also...???
Manish Sodani
(Executive (F & A) - ALSTOM India Ltd.)
(222 Points)
Replied 16 September 2009
Yes, this is applicable, you can carry forward the business loss for 8 years.
CA Aspirant!
(CA Fresher)
(112 Points)
Replied 16 September 2009
wt if its more than 8 years?? if d business loss was incurred, say some 10 years back, can we carry 4wrd it in MAT ???
CAclubindia
