Presumptive Taxtion

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student
115 Points Posted on 26 September 2023
can we set off last year business loss in case of presumptive taxation u/s 44ADA?
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On 26 September 2023 at 13:12 Report
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This discussion explores whether it's possible to offset a previous year's business loss when utilising presumptive taxation under Section 44ADA. While the general rule might suggest otherwise, the possibility of intra-head adjustment for set-off is considered. Readers are advised to consult the IT website and income tax calculators for definitive confirmation.

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"Do the Right Thing...!!!"
128157 Points Posted on 26 September 2023
No...
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On 26 September 2023 at 16:33
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CFO- at NHTF
58280 Points Posted on 27 September 2023
Set Off may be done since intra head adjustment is allowed in set off.

Check the IT website, Income Tax calculator and validate it to confirm
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On 27 September 2023 at 11:09

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